USDJPY hits the extended targets – Analysis - 05-03-2018

The USDJPY pair succeeded to achieve our next waited target at 105.54 and settles around it now, noticing that the price begins today with bearish bias to move below the mentioned level, which supports the chances of extending the bearish wave on the short term basis, waiting to head towards our next target at 104.31.

Therefore, our bearish overview will remain active in the upcoming period conditioned by the stability below 106.60, noting that the EMA50 supports the suggested bearish wave.

Expected trading range for today is between 104.50 support and 106.00 resistance.

Expected trend for today: Bearish