USDJPY hits the second target – Analysis - 12-01-2018
Economies.com
2018-01-12 04:56AM UTC
The USDJPY pair managed to touch our second waited target at 111.00 and settles near it, falling under the effect of negative formation that its signs appear on the chart, which supports the chances of breaking the mentioned level and open the way to extend the bearish wave towards 110.15 as a next station.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions supported by the negative pressure provided by the EMA50, unless we witnessed clear breach to 111.90 followed by 113.00 levels and hold above them.
Expected trading range for today is between 110.30 support and 112.00 resistance.
Expected trend for today: Bearish
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