The USDJPY price approaches the target – Forecast today - 19-04-2024

USDJPY Price Analysis

• The USDJPY price trades with clear negativity now, to approach the bullish channel’s support line that rises now to 153.25, which represents the main waited target for the suggested bearish wave, noting that it is important to monitor the price at this level due to its importance to detect the next trend.
• Therefore, we are waiting for more expected decline in the upcoming sessions, noting that breaking the mentioned level will push the price to start bearish correction and achieve negative targets that start at 152.80 and extend to 151.60, while breaching 154.65 will stop the negative scenario and lead the price to resume the main bullish track again.

The expected trading range for today is between 152.85 support and 154.50 resistance.

Trend forecast: Bearish