The USD/JPY currency pair encountered brief downward pressure in the previous trading session, testing the support at the 147.00 level. However, it has since rebounded and is poised to continue its anticipated bullish trend in both the intraday and short-term perspectives, with the next target set at 148.40.
This bullish outlook remains well-supported, aided by the EMA50 indicator, which is guiding the price trajectory from beneath. It’s worth noting that a breach of the 146.55 level would necessitate some intraday bearish correction before the pair can resume its ascent.
In terms of today’s expected trading range, it is anticipated to fluctuate between support at 147.00 and resistance at 148.40. The prevailing trend for today leans towards a bullish sentiment.