The USDJPY pair bounced downwards clearly after testing 112.00 barrier, to start bearish correction for the rise that started from 109.10 areas, on its way to visit 110.95 that represents 38.2% Fibonacci correction level, noting that breaking this level will push the price to 110.25 as a next station.
Therefore, the bearish bias will be suggested for the upcoming period, noting that breaching 112.05 will stop the expected bearish correction and lead the price to resume the main bullish trend again.
The expected trading range for today is between 110.60 support and 111.90 resistance
The expected trend for today: Bearish
Origin: Economies
