The USDJPY begins with strong negativity – Analysis - 08-01-2020

Economies.com
2020-01-08 05:21AM UTC

The USDJPY pair opened today’s trading with strong decline to break 108.40 level and approaches the first negative target at 107.45, which stops yesterday’s suggested positive scenario and leads the price to achieve more expected decline in the upcoming sessions, noting that breaking 107.45 will extend the bearish wave to reach 106.30 on the near term basis.

 

Therefore, the bearish trend will be expected for today unless breaching 108.40 followed by 108.60 levels and holding above them.

 

The expected trading range for today is between 107.45 support and 109.00 resistance

 

The expected trend for today: Bearish

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