USDJPY resumes the decline – Analysis - 13-06-2017

The USDJPY pair bounced lower clearly after approaching from the bearish channel’s resistance, to settle below 110.00 barrier, which supports the continuation of the bearish trend scenario efficiently in the upcoming sessions, and the way is open for testing 109.00 level as a next main target, reminding you that breaking this level will open the way towards 106.63 on the near term basis.

Therefore, the bearish bias will remain preferred for today unless breaching 110.95 level and holding above it, pointing that stochastic current positivity might push the price to provide some temporary positive attempts before resuming the expected bearish bias.

Expected trading range for today is between 108.50 support and 110.50 resistance.

Expected trend for today: Bearish