USDJPY fails to breach – Analysis - 05-01-2017
Economies.com
2017-01-05 04:57AM UTC
The USDJPY pair found solid resistance at 118.30 level and failed to breach it, to rebound strongly and approach from the key support 115.90, as the price returns to trading inside the minor bearish channel shown in the minor image, hinting the price potential decline to visit 113.97 areas in the upcoming period.
Therefore, the bearish bias will be suggested in the upcoming sessions supported by the negative pressure provided by the EMA50, taking into consideration that breaching 117.10 followed by 118.40 levels will stop the expected decline and lead the price to regain its main bullish track again.
Expected trading range for today is between 115.20 support and 117.10 resistance.
Expected trend for today: Bearish
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