USDJPY negotiates the key resistance – Analysis - 28-02-2017

The USDJPY pair retests 112.60 level, which is met by the EMA50 to add more strength to it, while stochastic loses its positive momentum clearly on the four hours' time frame, which supports the chances of bouncing bearishly to resume the bearish bias in the upcoming period.

Therefore, our bearish overview will remain valid for today, and the main targets begin at 111.40 and extend to 110.00, noting that breaching 112.60 and holding above it will push the price to test 113.97 areas again.

Expected trading range for today is between 111.40 support and 113.20 resistance.

Expected trend for today: Bearish