USDJPY approaches from the target – Analysis - 18-08-2017

The USDJPY pair resumed its negative trading clearly after testing 110.09 in the previous sessions, to approach from our waited target at 108.80 now, noting that breaking this level will push the price inside the bearish channel again, opening the way to extend the bearish wave on the short term basis and suffer more losses in the upcoming period.

Therefore, we will continue to suggest the bearish trend in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that the extended targets reach to 107.50, while the bearish trend will remain valid unless breaching 110.09 followed by 110.93 levels and hold above them.

Expected trading range for today is between 108.10 support and 110.09 resistance.

Expected trend for today: Bearish