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10/24/2023 6:23 am  #1


USD/JPY Analysis

The USD/JPY pair shows slight negative trades by today’s open to the press on the EMA50, which hints at a potential turn to decline, but we notice that stochastic shows positive signals that might help push the price to resume the bullish wave.
 
The contradiction between the technical factors makes us prefer to stay aside until the price confirms its situation according to the 149.55 level, noting that confirming breaking it will push the price to decline towards 148.70, followed by 147.30 levels as the main negative target, while consolidating above it will reactivate the positive scenario that targets 150.15, followed by 151.00 levels as the next main stations.

The expected trading range for today is between 148.60 support and 150.40 resistance.


 

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