The USDJPY returns to decline – Analysis - 11-12-2020

The USDJPY pair bounced downwards clearly yesterday to settle below the bearish trend resistance line, and the price still inside the sideways track that appears on the chart, confined between 103.65 support and 104.76 resistance, to continue suggesting the sideways move on the intraday basis until breaching one of these levels to detect the next targets clearly.

We remind you that breaking the mentioned support will push the price to continue the main bearish trend that targets 103.00 areas initially, while breaching the resistance will lead the price to achieve positive targets that start at 105.20 followed by 106.00.

The expected trading range for today is between 103.40 support and 104.75 resistance

The expected trend for today: Sideways