The USDJPY begins with strong negativity – Analysis - 06-05-2019

Economies.com
2019-05-06 02:27AM UTC

The USDJPY pair opened today’s trading with strong decline to surpass our first waited target at 110.86 and settles below it, approaching our second expected target at 110.08, which supports the chances of extending the correctional bearish wave on the short term basis, noting that surpassing the last level will push the price to 109.44 as a next main station.

 

Therefore, the bearish bias will remain dominant in the upcoming sessions supported by the EMA50, noting that breaching 110.86 will push the price to start attempts to return to the main bullish trend again.

 

The expected trading range for today is between 109.50 support and 111.00 resistance

 

The expected trend for today: Bearish

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