The USDJPY negotiates the broken support – Analysis - 26-03-2019
Economies.com
2019-03-26 05:09AM UTC
The USDJPY pair fluctuates around 110.08 level since yesterday, which represents 38.2% Fibonacci correction level that was broken previously, while the EMA50 keeps pressing negatively on the price, to keep the negative effect of the previously completed double top pattern active, which its signs appear on the chart, waiting to resume the bearish wave that targets 109.40 followed by 108.80 levels as next main stations.
We should note that rallying upwards to breach 110.76 – 110.86 levels will stop the suggested bearish wave and push the price to regain the main bullish track again.
The expected trading range for today is between 109.20 support and 110.70 resistance
The expected trend for today: Bearish
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