The USDJPY pair continued to decline to touch the negative target suggested in our last technical update at 105.20, fluctuating near this level, to fall under expected negative pressure in the upcoming period, waiting to break the mentioned level to confirm the continuation of the bearish trend on the intraday and short term basis, which its next target reaches 103.65.
Therefore, the bearish bias will be expected for today, supported by moving below the EMA50, taking into consideration that failing to achieve the required break will push the price to test 106.44 areas again before any new attempt to decline.
The expected trading range for today is between 104.70 support and 106.00 resistance
The expected trend for today: Bearish
Origin: Economies
