The USDJPY pair bounced downwards clearly yesterday after approaching 112.00 barrier, to break 111.32 level and settles below it, which puts the price under the negative pressure again and cancels the positive formation mentioned in our last report, while we expect to head to visit 110.15 level initially.
Therefore, we suggest witnessing negative trading in the upcoming period unless the price managed to breach 111.15 – 111.45 levels and hold above them.
Expected trading range for today is between 110.15 support and 111.60 resistance
Expected trend for today: Bearish