The USDJPY pair tests 50% Fibonacci correction level that forms an important resistance at 108.40, showing slight bearish bias, affected by stochastic negativity, while the EMA50 keeps providing positive support from the price.
Therefore, we believe that the chances are available for resuming the bullish trend in the upcoming sessions, targeting 109.33 level as a next main station, while achieving it requires holding above 107.45 level.
The expected trading range for today is between 107.60 support and 109.10 resistance
The expected trend for today: Bullish