USDJPY breaks the support – Analysis - 15-01-2018

The USDJPY pair succeeded to break 111.00 level and settles below it now, which supports the expectations of extending the correctional bearish wave towards 110.15 as a next station, as the price falls under continuous negative pressure provided by the EMA50, being aware that it is important to monitor the price behavior when reaching the targeted level, as breaking it will push the price towards 109.06 direct.

In general, we suggest the continuation of the negative pressure on the upcoming trading unless the price managed to rally upwards to breach 111.90 followed by 113.00 levels and hold above them.

Expected trading range for today is between 109.80 support and 111.20 resistance.

Expected trend for today: Bearish