The USDJPY pair faced strong negative pressure to break 113.40 level and settles below it, to complete forming double top pattern that supports the chances of achieving additional bearish correction on the intraday basis, and the way is open to test 38.2% level at 112.60, noting that breaking this level will push the price to 111.90 as a next correctional level.
Therefore, the bearish bias will be suggested for the upcoming period unless the price managed to breach 113.40 and hold above it.
The expected trading range for today is between 112.00 support and 113.40 resistance
The expected trend for today: Bearish
Origin: Economies
