The USDJPY pair succeeded to achieve our waited target at 106.44 but it bounced downwards clearly from there, which hints that the price is on its way to visit the intraday bullish channel’s support line that appears on the chart, located at 105.20.
Therefore, the bearish bias will be expected for today, supported by stochastic negativity, noting that breaching 106.44 will stop the expected decline and lead the price to achieve more gains on the intraday and short-term basis.
The expected trading range for today is between 105.40 support and 106.60 resistance
The expected trend for today: Bearish
Origin: Economies
