The USDJPY loses momentum – Analysis - 13-07-2021
Economies.com
2021-07-13 04:34AM UTC
The USDJPY pair retests the broken support line of the bullish channel that appears on the chart, and the EMA50 forms negative pressure against the price to protect the recently suggested bearish trend scenario, while stochastic loses its positive momentum clearly.
Therefore, we believe that the chances valid to resume the expected bearish trend on the intraday basis, which its next target located at 109.22, noting that the continuation of the bearish wave requires holding below 110.55.
The expected trading range for today is between 109.70 support and 110.80 resistance
The expected trend for today: Bearish
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