Overview
The USDJPY pair has begun today’s trading with clear bearish bias. Yesterday it closed above 104.00 levels, which supports the continuation of the positive scenario in the upcoming period, reinforcing expectations of targeting the 106.63 areas as the next main station. Therefore, the bullish trend will remain suggested on the intraday and short-term basis supported by the EMA50. Stochastic negativity interprets the reasons for the current decline, while the price needs to hold above 102.30 levels to keep the chances of achieving the awaited targets. The expected trading range for today is between the 102.80 support and 105.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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