USDJPY tests the key resistance – Analysis - 07-08-2017
The USDJPY pair rallied upwards strongly to test the key resistance 110.98 and keeps its stability below it, accompanied by witnessing negative overlapping signal through stochastic, noticing that the EMA50 keeps forming good resistance against the price, forming negative pressure on the intraday and short term trading.
Therefore, we expect to resume the main bearish track, and the targets begin by breaking 110.15 to confirm opening the way to target the previously recorded low at 108.80, being aware that breaching 110.98 will push the price to extend its intraday gains and head towards 112.32 before any new attempt to decline.
Expected trading range for today is between 109.50 support and 111.50 resistance.
Expected trend for today: Bearish
Forex and Currency News
Forex
Dollar tumbles to two-week lows ahead of US growth data
Dollar fell in European trade on Thursday against a basket of major rivals, resuming losses and ...
Forex
Euro scales 16-year peak against yen
Euro rallied in Asian trade on Thursday against the yen, extending gains for the fifth straight ...
Forex
Euro parks at two-week high amid positive sentiment
Euro rose in European trade on Wednesday, widening gains for the fourth straight session and ...
Forex Technical Analysis
Forex
The EURCAD under the negative pressure – Forecast today – 26-4-2024
EURCAD Price Analysis Expected Scenario The EURCAD price repeated the negative closings ...
Forex
The EURJPY achieves the second target – Forecast today – 26-4-2024
EURJPY Price Analysis Expected Scenario The EURJPY pair formed new bullish rally ...
Forex
The GBPJPY records big gains – Forecast today – 26-4-2024
GBPJPY Price Analysis Expected Scenario The GBPJPY pair succeeded to keep the bullish ...