USDJPY negotiates the support – Analysis - 16-01-2017
Economies.com
2017-01-16 05:10AM UTC
The USDJPY pair bounced bearishly after approaching from the EMA50 that formed solid resistance barrier against the price positive attempts, to start testing the key support 113.97 now, providing signals to continue the bearish bias inside the bearish channel that appears on chart, and stochastic current negativity supports the chances of breaking the mentioned support.
Therefore, the bearish trend will be suggested in the upcoming sessions unless the price managed to breach 115.90 level and hold above it, noting that the expected targets start at 111.97 and extend to 109.90 mainly.
Expected trading range for today is between 113.00 support and 115.00 resistance.
Expected trend for today: Bearish
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