The USDJPY achieves new gains – Analysis
The USDJPY pair rallied upwards yesterday to breach the bearish channel’s resistance and settles above it, to hint the attempt to recover on the intraday basis, but we notice that stochastic shows clear negative signals that put the price under negative pressure now, to face contradiction between the technical indicators that makes us prefer to stay aside until we get clearer signal for the next trend.
Note that continuing the rise and breaching 133.30 will lead the price to turn to the bullish trend and achieve gains that start at 134.50, while breaking 131.75 support will push the price back to the bearish track to head towards visiting 128.90 on the near term basis.
The expected trading range for today is between 131.30 support and 132.30 resistance
The expected trend for today: Neutral
Note that continuing the rise and breaching 133.30 will lead the price to turn to the bullish trend and achieve gains that start at 134.50, while breaking 131.75 support will push the price back to the bearish track to head towards visiting 128.90 on the near term basis.
The expected trading range for today is between 131.30 support and 132.30 resistance
The expected trend for today: Neutral
Trade active:
The USDJPY breaches the resistance
The USDJPY pair traded with clear positivity yesterday to breach 133.30 level and settles above it, to exit the bearish channel and head towards achieving positive targets that start at 134.50 and extend to 135.65.
Therefore, the bullish bias will be expected for today, supported by moving above the EMA50, noting that breaking 133.30 will stop the positive scenario and push the price back to the main bearish track.
The USDJPY pair traded with clear positivity yesterday to breach 133.30 level and settles above it, to exit the bearish channel and head towards achieving positive targets that start at 134.50 and extend to 135.65.
Therefore, the bullish bias will be expected for today, supported by moving above the EMA50, noting that breaking 133.30 will stop the positive scenario and push the price back to the main bearish track.
Trade active:
The USDJPY fails to settle positively
The USDJPY pair bounced downwards strongly in the previous sessions to break 133.30 level and return to the main bearish channel again, to resume the bearish track and heads towards achieving negative targets that start at 130.75 and extend to 129.50.
Moving below the EMA50 supports the continuation of the expected decline, while breaching 131.95 will push the price to test 133.30 again before any new negative attempt.
The USDJPY pair bounced downwards strongly in the previous sessions to break 133.30 level and return to the main bearish channel again, to resume the bearish track and heads towards achieving negative targets that start at 130.75 and extend to 129.50.
Moving below the EMA50 supports the continuation of the expected decline, while breaching 131.95 will push the price to test 133.30 again before any new negative attempt.
Order cancelled:
The USDJPY awaits more decline
The USDJPY pair hovers around the main bearish channel’s resistance and attempts to trade below it, falling under negative pressure formed by the EMA50, waiting for more decline to head towards 130.75 followed by 129.50 levels that represent our main negative targets.
Therefore, the negative scenario will remain valid for the upcoming period, noting that holding below 132.20 represents the first condition to continue the suggested bearish wave.
The USDJPY pair hovers around the main bearish channel’s resistance and attempts to trade below it, falling under negative pressure formed by the EMA50, waiting for more decline to head towards 130.75 followed by 129.50 levels that represent our main negative targets.
Therefore, the negative scenario will remain valid for the upcoming period, noting that holding below 132.20 represents the first condition to continue the suggested bearish wave.