USDJPY breaks the support – Analysis - 02-03-2018

The USDJPY pair achieved clear break to the key support 106.35 and settled below it, to activate the bearish trend scenario on the intraday and short term basis, targeting testing the previously recorded low at 105.54 as a next main station, noting that breaking this level will extend the pair’s losses to reach 104.31 on the near term basis.

Therefore, the bearish trend will be suggested in the upcoming sessions unless breaching 106.60 level and holding above it.

Expected trading range for today is between 105.00 support and 106.60 resistance.

Expected trend for today: Bearish