The USDJPY under the negative pressure – Analysis - 17-12-2021

The USDJPY pair couldn’t manage to hold for long time above 114.00, to trade with strong negativity and return to the sideways track that appears on the chart, which its lines represented by 114.00 resistance and 113.07 support, and the price might head to test this support in the upcoming sessions.

Therefore, we suggest the domination of the sideways trades on the intraday basis unless the price manages to breach one of the above mentioned levels, noting that breaking the support will press on the price to achieve additional bearish correction that targets 112.30 as a next negative station, while breaching the resistance will push the price to achieve positive targets that reach 115.50.

The expected trading range for today is between 113.00 support and 114.10 resistance

The expected trend for today: Sideways