The USDJPY pair bounced downwards clearly after testing 38.2% Fibonacci correction level yesterday, to trade at 106.00 barrier now, which supports the continuation of our bearish overview, noticing that stochastic provides negative overlapping signal that supports the chances of achieving more decline.
Our first target is located at 104.60, and breaking it will push the price towards 104.60 as a next station, while holding below 106.97 represents key condition to continue the expected decline.
The expected trading range for today is between 105.30 support and 106.90 resistance
The expected trend for today: Bearish
Origin: Economies
