The USDJPY price leans on the support – Forecast today - 06-05-2024
Economies.com
2024-05-06 04:08AM UTC
USDJPY Price Analysis
Expected Scenarios
The USDJPY price provided additional negative trades in the previous sessions to reach the bullish channel’s support line that appears on the chart, noticing that the price bounced bullishly from there, and according to the trading rules inside the channels, the price is on its way to resume the bullish trend within the mentioned channel, targeting testing 155.50 initially, noting that breaching it will the price towards 157.90 as a next positive station.
Therefore, the bullish bias will be suggested in the upcoming sessions, supported by the RSI positivity, noting that breaking 152.60 followed by 151.75 levels will stop the expected rise and push the price to achieve additional bearish correction that its next target reaches 150.22.