The USDJPY pair bounced downwards clearly after facing the solid resistance formed by the EMA50, to break 109.22 support line and close the daily candlestick below it, which puts the price under expected negative pressure in the upcoming sessions, paving the way to head towards 107.70 areas on the near term basis.
Therefore, we expect witnessing more decline today, noting that holding below 109.22 is important to continue the suggested decline.
The expected trading range for today is between 108.40 support and 109.50 resistance
The expected trend for today: Bearish
Origin: Economies
