The USDJPY tests the resistance – Analysis - 29-01-2020
Economies.com
2020-01-29 05:51AM UTC
The USDJPY pair shows some bullish bias to approach testing 109.33 level, accompanied by stochastic loss to the positive momentum and entering the overbought areas, noticing that the EMA50 meets the mentioned resistance to add more strength to it.
Therefore, we believe that the chances are valid to rebound bearishly and resume the expected bearish trend on the intraday basis, which its next target located at 108.40, while holding below 109.33 is important to continue the suggested decline.
The expected trading range for today is between 108.40 support and 109.70 resistance
The expected trend for today: Bearish
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