The USDJPY under the negative pressure – Analysis - 03-10-2019

The USDJPY pair provided strong negative trading yesterday to break 107.70 level and attacks the next target at 107.20, which stops the suggested positive scenario in our last reports and pushes the price to turn to the downside, noticing that there are signals for a double top pattern is forming currently, which supports the chances for achieving more of the downside moves in the upcoming sessions.

Therefore, the bearish bias will be preferred for today unless breaching 107.70 level and holding above it, pointing that the waited targets begin at 106.70 and extend to 106.06 then 105.50.

The expected trading range for today is between 106.30 support and 107.70 resistance

The expected trend for today: Bearish