USDJPY approaches the first target – Analysis - 14-08-2018

The USDJPY pair approached touching our first waited negative target at 110.04 yesterday, and it bounced upwards clearly to move above 110.60, noticing that stochastic loses its bullish momentum to reach the overbought areas, while the EMA50 forms continuous negative pressure against the price.

Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming period, which its targets begin by breaking 110.04 to confirm opening the way to head towards 109.00 as a next station, reminding you that it is important to hold below 111.32 to continue the expected decline.

Expected trading range for today is between 109.80 support and 111.32 resistance

Expected trend for today: Bearish