The USDJPY tests the resistance – Analysis - 07-04-2020
Economies.com
2020-04-07 04:54AM UTC
The USDJPY pair tested 109.20 level and bounced bearishly from there, to keep the bearish trend scenario valid and active on the intraday and short term basis, supported by stochastic from the overbought areas, and the price needs to break 108.50 to ease the mission of achieving our negative targets that start at 107.68 and extend to 106.44 after surpassing the previous level.
On the other hand, we should note that breaching 109.20 would stop the suggested decline and push the price to test 111.10 areas before any new attempt to resume the main bearish wave.
The expected trading range for today is between 107.70 support and 109.20 resistance
The expected trend for today: Overall Bearish
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