USDJPY continues the pressure – Analysis - 15-10-2018

The USDJPY pair continues to fluctuate at the key support 111.97 in attempt to break it, waiting to extend the bearish wave on the intraday and short term basis to reach 111.55 as a next station, noting that breaking 111.97 is required to confirm the continuation of the decline in the upcoming sessions, which its targets extend to reach 110.38 after surpassing the first target.

The EMA50 forms negative pressure to support the negative expectations, noting that breaking 112.95 will stop the suggested bearish bias and push the price to resume the main bullish trend again.

Expected trading range for today is between 111.30 support and 112.80 resistance

Expected trend for today: Bearish