USDJPY approaches the support line – Analysis - 11-06-2018

The USDJPY pair shows some slight bearish bias on its way to test the key support 109.00, which represents one of the next trend keys besides 110.04 resistance, and as we mentioned in our last report, the price needs to breach one of these levels to detect its next destination clearly, which keeps our neutrality valid until now.

We remind you that breaking the mentioned support will put the price under negative pressure that targets testing 108.00 level initially, while breaching the resistance will lead the price to achieve gains that start at 111.32 before determining the next short term trend.

Expected trading range for today is between 108.70 support and 110.30 resistance, 

Expected trend for today: Depends on the above mentioned levels