Overview
The USDJPY pair again steadily fluctuates below the bearish channel’s resistance that appears on chart as the EMA50 forms a good resistance barrier that supports the strength of the channel’s resistance. Stochastic begins to provide negative overlapping signal on the four-hour time frame. Therefore, these factors encourage us to keep our bearish overview in the upcoming period, which targets begin by testing 100.70 levels. We remind you that a break of this level will extend the correctional bearish wave to 94.76 mainly. The expected decline will remain valid for today unless breaching and holding above 102.80 levels. The expected trading range for today is between the 100.70 support and the 103.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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