USDJPY crawls downwards – Analysis - 06-02-2017
Economies.com
2017-02-06 04:44AM UTC
The USDJPY pair trades negatively organized inside the bearish channel that appears on the above chart, supported by the EMA50 that continues to push the price downwards, waiting for more decline in the upcoming sessions, as the price trades below 112.50 level to confirm the continuation of the negative pressure, waiting to head towards 110.00 as a next main station.
Therefore, our bearish overview will remain valid and active on the intraday and short term basis unless breaching 113.97 followed by 114.35 levels and holding above them.
Expected trading range for today is between 111.00 support and 113.35 resistance.
Expected trend for today: Bearish
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