The USDJPY pair succeeded to touch our waited target at 107.70 and fluctuates near it, noticing that the price settles below the bearish channel’s resistance that appears on the chart, while the EMA50 keeps pressing negatively on the price.
Therefore, we expect extending the bearish wave to target 106.45 areas on the near term basis, noting that it is important to hold below 108.40 to continue the expected decline.
The expected trading range for today is between 107.20 support and 108.40 resistance
The expected trend for today: Bearish
Origin: Economies
