The USD/JPY achieves some gains – Analysis – 21/07/2021

uasd-jpyThe USDJPY pair shows additional positive trades to test the resistance line that appears on the chart, and the EMA50 meets this resistance to add more strength to it, while stochastic loses its positive momentum to enter the overbought areas.

Therefore, these factors encourage us to continue suggesting the bearish trend on the intraday and short term basis, and the price needs to break 109.22 to confirm extending the bearish wave towards 107.70, noting that breaching 110.05 will push the price to achieve additional gains and test 110.75 areas initially.

The expected trading range for today is between 109.10 support and 110.30 resistance

The expected trend for today: Bearish

Origin: Economies

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