The USDJPY pair provided some slight positive attempts yesterday, but it did not reach 113.97 levels starting today with bearish bias approaching from the EMA50 again. Stochastic lost its bullish momentum and began to provide negative overlapping signal on the four-hour time frame. Therefore, we will continue suggesting the bearish trend in the upcoming sessions, which targets testing 112.45 followed by 111.65 levels mainly. A breach of 113.97 will stop the suggested negative scenario and push the price to return to its main bullish track again. The expected trading range for today is between the 112.45 support and the 114.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The USDJPY pair provided some slight positive attempts yesterday, but it did not reach 113.97 levels starting today with bearish bias approaching from the EMA50 again. Stochastic lost its bullish momentum and began to provide negative overlapping signal on the four-hour time frame. Therefore, we will continue suggesting the bearish trend in the upcoming sessions, which targets testing 112.45 followed by 111.65 levels mainly. A breach of 113.97 will stop the suggested negative scenario and push the price to return to its main bullish track again. The expected trading range for today is between the 112.45 support and the 114.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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