The USDJPY pair succeeded to touch the waited target in our last report at 112.05 and broke this level strongly by today's opening to settle below it now, which opens the way to extend the bearish wave on the intraday and short term basis, and the way is open to head towards 110.90 as a next main station.
Therefore, we expect witnessing more bearish bias in the upcoming sessions unless the price managed to breach 112.60 level and hold above it, noting that breaking 110.90 level will extend the bearish wave to reach 109.05 on the near term basis.
Expected trading range for today is between 110.60 support and 112.60 resistance.
Expected trend for today: Bearish