The USD/JPY pair keeps its stability below 113.97 level, while stochastic offers negative overlapping signal on the daily time frame, to keep the negative pressure valid and active for the upcoming period, waiting to resume the correctional bearish wave that targets 110.00 followed by 106.63 levels on the short term basis.
In general, we continue to suggest the bearish bias on the intraday and short term basis unless breaching 113.97 level and holding above it, as breaching this level will push the price to retest the most important resistance for the short term trading at 116.13 before any new attempt to decline.
Expected trading range for today is between 111.50 support and 113.97 resistance.
Expected trend for today: Bearish
Origin: Economies.com
