USDJPY begins with bearish gap – Analysis - 24-04-2017

Economies.com
2017-04-24 04:25AM UTC

The USDJPY pair begun today’s trading with strong bullish gap that pushed the price to breach 109.30 level, which requires being aware in the upcoming trading, where holding above this level will lead the price to test 111.65 levels mainly.

 

Now, we believe that the price will head to cover the mentioned gap and targets 109.10 levels initially, and breaking this level will confirm the return to the main bearish track, being aware that today’s close above 109.30 will stop the negative scenario and pushes the price to 111.65 before any new attempt to decline.

 

Expected trading range for today is between 109.00 support and 110.70 resistance.

 

Expected trend for today: Bearish

 

 

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