USDJPY gets a negative signal – Analysis - 10-08-2018

The USDJPY pair shows sideways trading since yesterday and keeps its stability below 111.32, noticing that stochastic begins to provide negative overlapping signal on the four hours’ time frame, waiting to motivate the price to break the neckline of the double top pattern at 110.06 and activate the negative effect of this pattern, to open the way to achieve our waited targets that begin at 110.04 and extend to go further towards 108.00.

Therefore, our bearish overview will remain active on the intraday and short term basis conditioned by the price stability below 111.32.

Expected trading range for today is between 109.80 support and 111.50 resistance

Expected trend for today: Bearish