The USDJPY pair bounced lower strongly after the price approach from retesting 111.65 level again yesterday, to resume its bearish track affected by the double top pattern that its lines appear in the above chart, supported by stochastic negativity besides the negative pressure that comes from the EMA50.
Therefore, the bearish trend will remain the dominant on the intraday and short term basis, reminding you that our next main target is located at 109.00, while the price needs to settle below 111.65 – 111.85 levels to continue the suggested bearish bias.
Expected trading range for today is between 109.00 support and 111.00 resistance.
Expected trend for today: Bearish