USDJPY suffers sharp losses – Analysis - 17-06-2016

The USDJPY pair trades with strong negativity yesterday hitting 103.55 levels, showing some bullish bias to settle above 104.00 now, which supports the continuation of the bullish wave on the short and medium term basis, reminding you that the next station located at 50% Fibonacci correction level at 100.70.

The expected decline depends on the stability of the price below 106.63 level, pointing that the EMA50 keeps supporting the expectation of moving lower.

Expected trading range for today is between 103.00 support and 105.50 resistance.

Expected trend for today: Bearish