USDJPY draws negative formation – Analysis - 28-05-2018
Economies.com
2018-05-27 23:52PM UTC
The USDJPY pair shows some bullish bias after touching 109.00 level, and it might test 110.04 level before turning back to decline again.
By taking a deeper look at the chart, we find that the price draws bearish pattern that its confirmation line located at 109.00, which means that breaking this level will push the price to target 108.00 followed by 106.71 levels as next main stations.
Therefore, we will continue to suggest the bearish trend in the upcoming period unless breaching 110.04 level and holding above it.
Expected trading range for today is between 108.60 support and 110.20 resistance.
Expected trend for today: Bearish
Forex and Currency News
Forex
Dollar under pressure from US yields and Japanese authorities
2024-04-29 11:17AM UTC
Dollar fell in European trade on Monday against a basket of major rivals, resuming gains after a ...
Forex
Euro hovers near two-week high despite bearish outlook
2024-04-29 07:40AM UTC
Euro rose in European trade on Monday against a basket of major rivals, resuming gains against the ...
Forex
The Australian dollar shines and the Japanese yen collapses!
2024-04-28 18:43PM UTC
Market Updates on Foreign Currencies The Australian currency tops the list of winning ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 29-04-2024
2024-04-29 09:53AM UTC
Expected Scenario The GBPUSD price shows new positive trades attempting to approach the ...
Forex
The EURUSD price forecast update - 29-04-2024
2024-04-29 09:53AM UTC
Expected Scenario The EURUSD price surpassed the 1.0715$ level and closed the last four ...
Forex
The GBPAUD hits the first target – Forecast today – 29-4-2024
2024-04-29 05:57AM UTC
GBPAUD Price Analysis Expected Scenario The GBPAUD price started to form new negative ...