USDJPY attempts positively – Analysis - 14-08-2017

The USDJPY pair achieves some gains after touching 108.72 level on last Friday, to approach from the bearish channel's resistance that appears on chart, noticing that stochastic loses its positive momentum clearly to reach the overbought areas' thresholds.

Therefore, we believe that the chances are valid to rebound bearishly and resume the bearish trend in the upcoming sessions, to start the negative targets by breaking the above mentioned level followed by opening the way to head towards our next target at 107.75, taking into consideration that breaching 109.70 will stop the current decline and push the price to start bullish correction that its targets begin at 110.10 and extend to 110.93.

Expected trading range for today is between 108.30 support and 110.10 resistance.

Expected trend for today: Bearish