The USDJPY price surpasses the first target – Forecast today - 16-04-2024

USDJPY Price Analysis

• The USDJPY price rallied upwards to surpass our first awaited target at 154.10 and settles above it, reinforcing the expectations of continuing the bullish trend on the intraday and short-term basis. The next positive station is located at 156.00.
• The bullish channels continue to organize the expected bullish wave, receiving continuous support from the EMA50. It's important to note that the continuation of the bullish trend requires holding above 153.55, and more importantly, above 152.60.

The expected trading range for today is between 153.60 support and 155.20 resistance.

Trend forecast: Bullish