USDJPY keeps declining – Analysis - 17-04-2017

The USDJPY pair resumes its negative trading clearly to approach from 108.00 barrier, which supports the continuation of the bearish trend scenario efficiently in the upcoming period, where the price organizes within the bearish channel that appears in the image, while the effect of the double top pattern remains valid.

Therefore, we wait for more of the downside moves on the intraday and short term basis, and the next main target at 106.63, while holding below 110.10 represents the first condition for the continuation of the suggested bearish wave.

Expected trading range for today is between 107.00 support and 109.00 resistance.

Expected trend for today: Bearish