Update: The USDJPY collapses after the BOJ intervention
The USDJPY pair declined sharply after the BOJ intervention to support the Yen, which pushed the price to break the bullish channel’s support line and achieve bearish correction that reached 38.2% Fibonacci for the rise measured from 131.72 to 145.89, and we need to monitor the upcoming trades carefully, as breaking 140.50 will press on the price to achieve more bearish correction and head towards 138.80 as a next negative station, while breaching 142.55 followed by 143.65 will push the price back to the main bullish track again.
Midday update for the NZDUSD 22-09-2022
The NZDUSD pair trades with clear positivity now to test the key resistance 0.5890, and as we mentioned this morning, the price needs to hold below this level to keep the main bearish trend active, which its next main target located at 0.5750, reminding you that breaching the mentioned resistance will lead the price to achieve additional gains that reach 0.6035.
The expected trading range for today is between 0.5800 support and 0.5920 resistance
The expected trend for today: Bearish
Midday update for the AUDUSD 22-09-2022
The AUDUSD pair rallies upwards strongly now to approach testing the key resistance 0.6700, which makes us prefer to stay aside until we get clearer signal for the next trend, as breaching this resistance represents the key to extend the bullish wave to target 0.6760 as a next positive station, while breaking 0.6630 will press on the price to resume the main bearish trend and head towards 0.6500 as a main negative target.
The expected trading range for today is between 0.6600 support and 0.6710 resistance
The expected trend for today: Neutral
Midday update for Brent oil 22-09-2022
Brent oil price shows clear bullish bias now to move away from 90.20 level, to hint heading to visit 93.30 areas initially, which urges caution from the upcoming trading and makes us prefer to stay aside until we get clearer signal for the next trend, noting that the continuation of the rise and breaching 93.30 will push the price to achieve additional gains on the intraday and short term basis, while breaking 90.20 will revive the main bearish trend that its next target located at 88.25.
The expected trading range for today is between 89.00 support and 93.00 resistance.
The expected trend for today: Neutral