The USD/JPY price halted its decline near the 155.00 barrier, rebounding bullishly to breach the 156.80 level and settle above it. This movement suggests a recovery and an attempt to return to the main bullish track, aiming for positive targets starting with a test of the 158.80 level.
Thus, a bullish trend is anticipated for the upcoming sessions, supported by the RSI’s positive signals. However, breaking below the 156.80 level and holding there would reactivate the correctional bearish scenario, with the next main target at 153.65.
The expected trading range for today is between the support level of 156.60 and the resistance level of 158.30.
Trend Forecast: Bullish
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