The USDJPY pair continues to decline to reach the thresholds of the waited target at 106.44, and the price falls under negative pressure that comes by the EMA50, to support the chances of continuing the decline in the upcoming sessions, especially that the price shows signs of double top pattern that appears on the chart, the pattern’s confirmation is located at 106.00, which means that breaking it will press on the price to suffer strong losses that target the previously recorded low at 101.16.
Therefore, the negative scenario will remain expected for the upcoming period, and the near targets begin at 105.20 followed by 103.65, taking into consideration that breaching 107.68 will stop the expected bearish trend and leads the price to turn to rise.
The expected trading range for today is between 106.00 support and 107.50 resistance
The expected trend for today: Bearish