The USDJPY retests – Analysis - 07-10-2019

Economies.com
2019-10-07 04:59AM UTC

The USDJPY pair retested the broken neckline of the completed double top pattern and kept its stability below it, keeping the negative effect of this pattern active, and the price needs to surpass 106.70 to confirm heading to our next targets that are located at 106.06 then 105.50.

 

Therefore, we will keep our bearish trend expectations, supported by the negative signal that comes from stochastic now, conditioned by holding below 107.70 level.

 

The expected trading range for today is between 105.80 support and 107.50 resistance

 

The expected trend for today: Bearish

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