USDJPY closes positively – Analysis - 20-06-2018

The USDJPY pair’s decline stopped at 109.55 yesterday, to rebound bullishly and close the daily candlestick above 110.04 level, hinting the price head to resume the correctional bullish trend, but it faces intraday resistance formed by the EMA50, besides stochastic reach to the overbought areas.

Therefore, we prefer staying aside until we get clearer signal for the next trend, noting that breaching 110.35 will push the price to achieve more rise and visit 111.32 mainly, while breaking 110.04 will put the price under the negative pressure that its first target located at 109.00.

Expected trading range for today is between 109.30 support and 111.00 resistance, 

Expected trend for today: Depends on the above mentioned levels