The USDJPY breaks the support – Analysis - 23-02-2021

The USDJPY pair provided positive trades yesterday but it bounced downwards strongly to break 105.20 level and settles below it, which stops the recently suggested positive scenario and push the price to turn to decline, on its way to achieve negative targets that start at 104.40 and extend to 103.65.

Therefore, the bearish bias will be expected for today, supported by the completion of the double top pattern that its signs appear on the chart, noting that the continuation of the expected decline requires holding below 105.20.

The expected trading range for today is between 104.40 support and 105.50 resistance

The expected trend for today: Bearish