The USDJPY pair settles below the bearish channel’s resistance, starting today with clear decline to move away from this resistance, which keeps the bearish trend scenario valid and active for the upcoming sessions, supported by stochastic negativity, waiting to test 109.06 level initially.
On the other hand, we should note that breaching 111.25 and holding above it will stop the negative scenario and leads the price to turn to rise.
The expected trading range for today is between 109.50 support and 111.40 resistance
The expected trend for today: Bearish