USDJPY awaits to activate the negative signal – Analysis - 14-06-2017

The USDJPY pair fluctuates around the EMA50 keeping its stability below it, which forms negative pressure that keeps the bearish bias suggested in the upcoming period, noticing that stochastic provides negative overlapping signal on the four hours' time frame, waiting to motivate the price to resume the bearish trend on the intraday and short term basis.

Therefore, the bearish trend scenario will remain valid for today, and the targets begin by breaking 109.00 level to open the way to extend the bearish wave towards 106.63, noting that breaching 110.90 will stop the suggested decline and push the price to visit 113.97 areas before any new attempt to decline.

Expected trading range for today is between 109.00 support and 110.90 resistance.

Expected trend for today: Bearish