USDJPY breaks the support – Analysis - 04-08-2017
Economies.com
2017-08-04 03:58AM UTC
The USDJPY pair succeeded to break the key support 110.15 and settled with a daily close below it, which supports the continuation of our bearish overview efficiently in the upcoming period, organized inside the bearish channel that appears on chart, supported by the negative pressure formed by the EMA50.
Therefore, we are waiting for more decline in the upcoming sessions, and the next target is located at 108.80, noting that breaching 110.98 will stop the suggested negative scenario and push the price to test 112.32 areas before detecting the next destination clearly.
Expected trading range for today is between 109.00 support and 111.00 resistance.
Expected trend for today: Bearish
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