The USDJPY pair bounced downwards strongly on last Friday after testing the bearish channel's resistance that appears on the above chart, which supports the continuation of our bearish overview efficiently in the upcoming period, paving the way to head towards our main targets that begin at 109.00 and extend to 106.63 after breaking the previous level.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions conditioned by holding below 111.40, noting that the EMA50 forms negative pressure that reinforces the expectations to decline.
Expected trading range for today is between 109.50 support and 111.40 resistance.
Expected trend for today: Bearish