The USDJPY achieves strong gains – Analysis - 10-11-2020

The USDJPY pair rallied upwards sharply yesterday to achieve strong gains after surpassing 103.65 barrier, as it reached 105.65 areas, noticing that the price begins today with clear bearish bias to settle below 105.20, which hints the price head to resume the main bearish trend, supported by stochastic positivity that appears clearly on the four hours’ time frame.

Therefore, we expect witnessing negative trades in the upcoming sessions, and the next main target is represented by testing 103.65 level again, noting that the continuation of the bearish wave requires holding below 105.20.

The expected trading range for today is between 104.00 support and 105.65 resistance

The expected trend for today: Bearish