The USDJPY pair closed the last daily candlestick below 109.22 level, to fall under expected negative pressure in the upcoming sessions, targeting testing the intraday bullish channel’s support line at 108.65 initially, noting that breaking this level will extend the bearish wave to reach 107.68 as a next negative station.
Therefore, the bearish bias will be suggested for today, taking into consideration that breaching 109.30 will stop the expected negative pressure to lead the price to recover again.
The expected trading range for today is between 108.40 support and 109.80 resistance
The expected trend for today: Bearish
Origin: Economies
