The USD/JPY reaches the target – Analysis – 16/09/2020

jpy_1_newsThe USDJPY pair succeeded to reach our main waited target at 105.20 and settles there, falling under continuous negative pressure coming by the EMA50, to support the chances of breaking this level and open the way to extend the bearish wave on the short term and medium term basis, to head towards 103.65 as a next negative target.

Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that failing to break 105.20 will push the price to achieve intraday gains and visit 106.44 areas again before any new attempt to decline.

The expected trading range for today is between 104.50 support and 105.90 resistance

The expected trend for today: Bearish

Origin: Economies

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