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The USDJPY pair has resumed its downward trajectory following a strong bounce off the upper boundary of its bullish channel, failing to breach the critical 156.82 level decisively. This failure has prompted a move below this key support level, paving the way for further bearish correction in both intraday and short-term perspectives, with a target around the 153.65 mark.
The bearish outlook is reinforced by downward pressure from the EMA50 indicator. However, a breakthrough above 156.82 could alleviate current selling pressure and initiate fresh attempts at recovery.
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Today’s anticipated trading range is projected between support at 155.40 and resistance at 157.00.
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