The USDJPY touches the main target – Analysis - 20-03-2020

The USDJPY pair continued its bullish rally to manage to touch our extended target at 111.25, noticing that the price started to rebound bearishly from there, and according to the trading rules inside the channels, the price is on its way to start bearish wave on the intraday and short term basis, targeting 107.46 followed by 105.05 levels initially.

Therefore, the bearish trend will be expected for the upcoming period, taking into consideration that breaching 111.25 will stop the expected decline and leads the price to achieve more gains on the medium term basis.

The expected trading range for today is between 108.95 support and 111.00 resistance

The expected trend for today: Bearish