USDJPY continues to decline – Analysis - 07-02-2017
Economies.com
2017-02-07 05:17AM UTC
The USDJPY pair continues its negative trading that organized within the bearish channel that appears in the image, and the way is open towards targeting 110.00 level that represents our next main target, where the EMA50 keeps pushing negatively on the price, reinforcing the chances for achieving more of the downside moves for today.
Therefore, we keep preferring the bearish trend on the intraday and short term basis, pointing that breaching 113.97 level will stop the suggested decline and leads the price to recovery attempts on the short term basis.
Expected trading range for today is between 110.50 support and 112.50 resistance.
Expected trend for today: Bearish
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