USDJPY loses momentum – Analysis - 03-02-2017
Economies.com
2017-02-03 05:31AM UTC
The USDJPY pair settles below the bearish channel's resistance that appears on chart, falling under the negative pressure provided by the EMA50, while stochastic loses its positive momentum gradually heading towards the overbought areas.
Therefore, we expect the continuation of the bearish trend domination in the upcoming sessions, which its next target located at 110.00, noting that the price needs to confirm breaking 112.50 level to ease the mission of achieving the mentioned target, while the expected decline will remain valid unless breaching 113.97 level and holding above it.
Expected trading range for today is between 111.50 support and 113.55 resistance.
Expected trend for today: Bearish
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