The USDJPY pair trades negatively to break 108.40 level and settles below it now, witnessing signs of intraday double top pattern, which hints that the price is on its way for potential test to the correctional bullish channel’s support line at 107.45 in the upcoming sessions.
Therefore, the bearish bias will be suggested for today, noting that breaching 108.40 and holding above it again will stop the suggested decline and push the price to regain the main bullish trend.
The expected trading range for today is between 107.45 support and 108.80 resistance
The expected trend for today: Bearish