The USD/JPY pair is currently undergoing a retest of the previously breached support level at 142.76, maintaining stability below it. This sustains the bearish trend scenario for the near future, supported by the downward pressure exerted by the EMA50 and the negative signals from the stochastic indicator. The next anticipated target is around 140.65.
The pivotal factor for the continuation of the expected decline is holding below 142.76. A breach of this level would be a crucial signal to consider attempting a recovery and regaining the primary bullish trend.
The projected trading range for today oscillates between the support at 141.60 and the resistance at 143.20.
Today’s Trend Expectation: Bearish