USDJPY awaits more decline – Analysis - 20-12-2018

The USDJPY pair shows slight bullish bias to test 112.46 level that forms a minor resistance now, noticing that the EMA50 forms a negative pressure against the price, while stochastic loses its positive momentum gradually.

Therefore, the chances remain valid to resume the expected bearish trend on the intraday and short term basis, and its targets begin at 111.97, reminding you that breaking this level will extend the pair losses to reach 110.40, while the continuation of the expected decline depends on the stability below 112.97 and the most important below 113.56.

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

Expected trend for today: Bearish