The tight range controlled the USDJPY pair’s trading yesterday, it remains stable below 113.97 level. Stochastic begins to decline on the 4-hour time frame to support the chances for resuming the bearish trend on the intraday and short-term basis, where the bearish trend scenario remains active if the price settles below the mentioned level. Therefore, we wait for negative trading in the upcoming sessions. The expected targets begin at 111.60 and extend to 110.00, reminding you that breaching the level of 113.97 will push the price to test 118.00 level initially. The expected trading range for today is between 112.60 support and 114.30 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The tight range controlled the USDJPY pair’s trading yesterday, it remains stable below 113.97 level. Stochastic begins to decline on the 4-hour time frame to support the chances for resuming the bearish trend on the intraday and short-term basis, where the bearish trend scenario remains active if the price settles below the mentioned level. Therefore, we wait for negative trading in the upcoming sessions. The expected targets begin at 111.60 and extend to 110.00, reminding you that breaching the level of 113.97 will push the price to test 118.00 level initially. The expected trading range for today is between 112.60 support and 114.30 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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