The USDJPY retests – Analysis - 22-03-2019
Economies.com
2019-03-22 05:17AM UTC
The USDJPY pair provided positive trades yesterday to retest the previously broken neckline of the double top pattern that appears on the chart, accompanied by stochastic reach to the overbought areas, which supports the chances of resuming the bearish bias in the upcoming sessions, to keep the negative effect of this pattern active, waiting to visit 109.40 level as a next main station.
We should note that the continuation of the bullish bias and confirming breaching 110.76 will stop the suggested negative scenario and lead the price to start recovery attempts that target 111.70 areas initially.
The expected trading range for today is between 110.00 support and 111.25 resistance
The expected trend for today: Bearish
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