The USDJPY breaks the support – Analysis - 03-12-2019

The USDJPY pair traded with a clear negativity yesterday to break 109.33 level and settles below it, which puts the price under expected negative pressure on the intraday basis, in its way to test 108.40 level initially.

Therefore, the bearish bias will be preferred for today unless breaching 109.33 level and holding above it again, pointing that surpassing the targeted level will provide signals for the price head to achieve more of the downside moves on the short term basis.

The expected trading range for today is between 108.40 support and 110.00 resistance

The expected trend for today: Bearish