USDJPY begins negatively – Analysis - 26-02-2018

The USDJPY pair opens today’s trading with clear bearish bias on its way to test the key support that declines now to 106.10, which represents one of the next trend keys besides 107.40 resistance, as the price needs to breach one of these levels to detect its next destination clearly, which keeps our neutrality valid until now.

The contradiction between stochastic positivity and the EMA50 negativity provides another reason for neutrality, noting that breaking 106.10 will push the price the price to resume the main bearish track that its next target located at 105.54, while breaching 107.40 represents positive factor that will push trades for more bullish correction and test 108.53 as a next station.

Expected trading range for today is between 105.60 support and 107.40 resistance.

Expected trend for today: Depends on the above mentioned levels