USDJPY breaks the support – Analysis - 31-01-2019

2019-01-31 05:15:21 GMT (Economies.com)
USDJPY breaks the support – Analysis - 31-01-2019
 

The USDJPY pair traded with clear negativity yesterday to break 109.16 level and settles below it, which stops the recently suggested positive scenario and put the price under expected negative pressure in the upcoming sessions, as the price completed forming double top pattern that its main target located at 108.09.

 

Therefore, we suggest the continuation of the bearish bias in the upcoming sessions, noting that breaching 109.16 and holding above it will reactivate the correctional bullish trend scenario again.

 

Expected trading range for today is between 108.00 support and 109.40 resistance

 

Expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1214
-0.0030
0.2655%
1.2944
-0.0058
0.4469%
14.809
-0.195
1.300%
66.378
2.368
3.699%
74.54
0.49
0.66%
1271.765
-3.935
0.308%
 
 
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