The USD/JPY pair breached and settled above the 147.17 barriers, beginning today with another climb to reaffirm the direction of recovery and attempt to retake the major bullish trend on its path to gains that begin at 149.25 and extend to 150.

As a result, a bullish bias will be indicated for today, backed by a move above the EMA50, with the caveat that a breach of 147.17 will end the positive scenario and return the price to the correcting bearish pressure.

Today’s trading range is likely between 147.40 support and 149.00 resistance.

Today’s projected trend: Bullish