The USD/JPY pair is currently exhibiting a fluctuating pattern around the previously breached support level, now identified at 147.40. Sustaining a position below this level is crucial to uphold the prevailing bearish trend, with the next significant target set at 146.17.
Technical indicators convey negative signals, reinforcing the anticipation of a continued bearish trend. It is imperative to monitor the 147.40 level, as a breach could signal a recovery, prompting the price to aim for a test of 148.30.
The anticipated trading range for the day is expected to fluctuate between the support level at 146.50 and the resistance level at 147.90.
Expected Trend for Today: Bearish