The USD/JPY needs a negative motive – Analysis – 20/11/2020

news_22_feb_1_usd_jpy-The USDJPY pair rose temporarily yesterday to test 104.20 level and rebounds bearishly from there to settle near 103.65 support line again, which keeps the bearish trend scenario valid and suggested for the upcoming period, supported by the negative pressure formed by the EMA50, waiting to get negative motive that assists to push the price to break the mentioned support to confirm extending the bearish wave towards 103.00.

Until now, the bearish trend will remain valid and active for the upcoming period unless the price breached 104.20 and hold above it.

The expected trading range for today is between 103.00 support and 104.30 resistance

The expected trend for today: Bearish

Origin: Economies

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