USDJPY approaches the first target – Analysis - 10-01-2018

The USDJPY pair opens today's trading with clear negativity to approach our first waited target at 111.90, which supports the continuation of our bearish overview, reminding you that breaking the mentioned level will push the price towards 50% Fibonacci correction level at 111.00.

Therefore, we will continue to suggest the bearish trend for today, supported by the EMA50, noting that it is important to hold below 113.00 to keep the chances of achieving the suggested targets.

Expected trading range for today is between 111.50 support and 113.00 resistance.

Expected trend for today: Bearish