The USDJPY price struggled to maintain its position above the 150.20 level, moving into a bearish phase and reaching 149.00. This shift places the pair under corrective bearish pressure, with the next target at the 50% Fibonacci correction level of 148.16.
As long as the 150.20 level remains intact, the bearish bias will prevail, pushing the price lower. However, if the price breaches this level, it could signal a potential recovery, leading to bullish movement in the short term.
The expected trading range for today is between 149.10$ support and 150.60$ resistance.
Trend Forecast: Bearish
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