USDJPY breaches the resistance – Analysis - 04-06-2018
Economies.com
2018-06-04 01:21AM UTC
The USDJPY pair rallied upwards to beach 109.00 level and settles above it, which might push the price to test 110.04 level before turning back to decline again, as we notice that stochastic shows clear overbought signals, to keep the chances valid to rebound bearishly and resume the overall bearish trend.
Therefore, we are waiting for negative trades in the upcoming sessions conditioned by the price stability below 110.04, noting that breaking 109.00 will ease the mission of heading towards our next negative target at 108.00.
Expected trading range for today is between 108.50 support and 110.20 resistance,
Expected trend for today: Overall Bearish
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