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
Yen extends losses as Banks of Japan holds off intervention
2024-05-17 04:36AM UTC
Yen fell in Asian trade on Friday against a basket of major rivals, extending losses for the second ...
Forex
Euro extends gains to two-month highs amid positive outlook
2024-05-16 08:33AM UTC
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
Yen gains ground as US treasury yields dip
2024-05-16 04:20AM UTC
Yen rose in Asian trade on Thursday against a basket of major rivals, extending gains for the ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 17-05-2024
2024-05-17 09:10AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price provides additional negative ...
Forex
The EURUSD price forecast update - 17-05-2024
2024-05-17 09:09AM UTC
EURUSD Price Analysis Expected Scenario The EURUSD price shows additional negative trades ...
Forex
The GBPCHF repeats the attempt to exit the negative track – Forecast today – 17-5-2024
2024-05-17 07:18AM UTC
GBPCHF Price Analysis Expected Scenario The GBPCHF price returned to form new bullish ...