The USDJPY heads to retest – Analysis - 27-03-2019
Economies.com
2019-03-27 05:27AM UTC
The USDJPY pair traded with clear positivity yesterday to approach retesting the previously broken neckline of the double top pattern that appears on the chart, located at 110.76, noticing that the EMA50 meets this resistance to add more strength to it, while stochastic shows clear overbought signals.
Therefore, these factors encourage us to suggest the bearish bias in the upcoming sessions, which its targets begin by surpassing 110.08 level to confirm extending the bearish wave towards 109.40, reminding you that the continuation of the expected decline depends on the price stability below 110.76 – 110.86 levels.
The expected trading range for today is between 109.70 support and 111.00 resistance
The expected trend for today: Bearish
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