USDJPY is stable – Analysis - 08-02-2017
Economies.com
2017-02-08 05:35AM UTC
The USDJPY pair settles near 112.00 level, while the EMA50 keeps pushing negatively on the price, noticing that stochastic moves near the overbought levels, which forms negative factor that we wait to push the price to resume the decline in the upcoming sessions, which organized within the bearish channel that appears in the chart.
Therefore, the bearish trend scenario will remain valid and active in the upcoming sessions, and its next target located at 110.00, while achieving it conditioned by holding below 113.97 level.
Expected trading range for today is between 110.50 support and 113.00 resistance.
Expected trend for today: Bearish
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