The USD/JPY pair has resumed its bearish movement after a bearish rebound from the broken support of the bullish channel. The pair is heading towards testing the level of 146.17, representing the next target. A break below this level could lead to further bearish correction, with the next target at 144.47.
The bearish trend is supported by the negative pressure from the EMA50. To maintain this bearish outlook, it is essential for the price to stay below 147.50.
The expected trading range for the day is between the support at 146.00 and resistance at 147.50.
Expected Trend for Today: Bearish