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

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...
GBP USD Analysis

Forex

The GBPUSD forecast update 28-03-2024
2024-03-28 10:19AM UTC
GBPUSD Trading Analysis The GBPUSD price shows calm bearish bias to gradually approach our first ...