The USDJPY tests the resistance – Analysis - 23-09-2020

The USDJPY pair kept rising to test the key resistance 105.20, which forms solid barrier against the price, accompanied by stochastic loss to the positive momentum and witnessing clear overbought signals, while the EMA50 forms negative pressure against the price.

Therefore, we believe that the chances valid to rebound bearishly and resume the expected bearish trend on the intraday and short term basis, which its next main target located at 103.65, while achieving it requires holding below 105.20.

The expected trading range for today is between 104.30 support and 105.50 resistance

The expected trend for today: Bearish