The USDJPY pair keeps declining strongly to approach our extended target at 108.00, and we expect the continuation of the negative pressure to break this level and open the way to visit the recently recorded low at 106.75 on the near term basis.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions, taking into consideration that breaching 108.80 is considered as the first positive key to start recovery attempts on the intraday basis.
The expected trading range for today is between 107.50 support and 108.80 resistance
The expected trend for today: Bearish