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USDJPY Price Analysis
Expected Scenario
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The USDJPY price has settled below the broken support line of its bullish channel, indicating a correctional bearish scenario for the near future. The next target is set at 160.20, with a potential further decline towards 159.10 upon breaching the initial target.
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Therefore, we anticipate further decline in the upcoming sessions. It will be crucial to monitor whether the price can breach the resistance at 161.65, as this could signal a potential reversal back to the main bullish track.
Expected Trading Range
Support: 160.50
Resistance: 162.00
Trend Forecast: Bearish
