The USDJPY pair traded with strong negativity in the previous sessions and opened today with additional decline to touch our extended target at 104.60 and bounced bullishly to settle above 105.05 now, which hints the price head to continue the decline on the intraday and short term basis, as the next target is located at 104.00.
Therefore, we are waiting for more decline in the upcoming sessions unless the price rallied to breach 106.70 and hold above it.
The expected trading range for today is between 104.60 support and 106.00 resistance
The expected trend for today: Bearish