The USDJPY returns to test the resistance – Analysis - 07-12-2020
Economies.com
2020-12-07 05:01AM UTC
The USDJPY pair provided positive trades on last Friday to test the resistance line that appears on the chart, and the EMA50 meets this resistance to add more strength to it, while stochastic begins providing negative overlapping signal on the four hours’ time frame.
Therefore, we are waiting for negative trades in the upcoming sessions, and the targets begin by breaking 103.65 to confirm opening the way to head towards 103.00, reminding you that the continuation of the bearish wave conditions holding below 104.76.
The expected trading range for today is between 103.00 support and 104.50 resistance
The expected trend for today: Bearish
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