USDJPY gets a negative signal – Analysis - 10-09-2018
Economies.com
2018-09-10 04:23AM UTC
The USDJPY pair provided positive trades on last Friday to test the key resistance 111.16 and remains stable below it, accompanied by stochastic reach to the overbought areas, while the EMA50 keeps forming negative pressure against the price.
Therefore, we believe that the chances are valid to rebound bearishly and resume the bearish trend in the upcoming sessions, and the price needs to break 110.45 to confirm heading towards our next main target at 109.90, noting that the continuation of the expected decline conditions holding below 111.16 and 111.50 levels.
Expected trading range for today is between 110.10 support and 111.50 resistance
Expected trend for today: Bearish
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