The USDJPY achieves the target – Analysis - 15-04-2019

The USDJPY pair succeeded to reach our main expected target at 112.14, noticing that the price finds solid resistance there, which forms last month’s high, as stochastic shows negative signals that might press on the price to rebounds bearishly in the upcoming sessions.

Therefore, we expect witnessing negative trades today, and breaking 111.75 will confirm the continuation of the decline to test 111.10 followed by 110.86 areas, taking into consideration that breaching 112.14 will stop the negative scenario and push the price to continue rising on the short term basis and opens the way to visit 113.10 as a next main target.

The expected trading range for today is between 111.10 support and 112.60 resistance

The expected trend for today: Bearish