USDJPY approaches from the resistance – Analysis - 12-06-2017

The USDJPY pair provided clear positive trading on last Friday to approach from the bearish channel's resistance that appears on the above chart, and begins to rebound bearishly now, hinting resuming the short term bearish trend, supported by stochastic negativity that appears on the four hours' time frame.

Therefore, we will continue to suggest the overall bearish trend in the upcoming sessions, which targets testing 109.00 level initially, reminding you that breaking this level will push the price towards 106.63 as a next main station, while the suggested decline will remain valid unless breaching 111.00 level and holding above it.

Expected trading range for today is between 109.00 support and 111.00 resistance.

Expected trend for today: Bearish