The USDJPY loses momentum – Analysis - 05-12-2019
Economies.com
2019-12-05 05:42AM UTC
The USDJPY pair touched 108.40 level yesterday and bounced bullishly to test the EMA50, noticing that stochastic lost its positive momentum to enter the overbought areas, which supports the chances of bouncing bearishly to resume the negative trades, and the price needs to break the mentioned level to confirm the extension of the bearish wave to reach 107.45.
Therefore, we will keep our bearish overview unless we witnessed clear breach to 109.33 and holding with a daily close above it.
The expected trading range for today is between 108.00 support and 109.33 resistance
The expected trend for today: Bearish
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