The USDJPY breaks the support – Analysis - 24-05-2019

The USDJPY pair still stuck between the trend confirmation levels represented by 110.08 support and 110.86 resistance, to keep our neutrality valid until now, waiting to breach one of these levels to detect its next targets clearly, reminding you that breaking the support will put the price under the correctional bearish pressure again, to start the negative targets at 109.44 and extend to 108.80, while breaching the resistance represents the key to regain the main bullish trend and target 112.14 areas initially.

Therefore, the bearish bias will be preferred in the upcoming sessions unless breaching 110.08 level and holding above it.

The expected trading range for today is between 108.80 support and 110.08 resistance

The expected trend for today: Bearish