USDJPY keeps its negative stability – Analysis - 11-04-2017
Economies.com
2017-04-11 04:18AM UTC
The USDJPY pair bounced downwards clearly after retesting 111.65 level yesterday, to keep the negative effect of the double top pattern active, and the bearish wave continues to move organized inside the bearish channel that appears on chart, supported by the negative pressure formed by the EMA50.
Therefore, we are waiting for more decline in the upcoming sessions, and the next targets begin at 109.00 and extend to reach 106.63, noting that holding below 111.65 represents key condition to continue the suggested bearish wave.
Expected trading range for today is between 109.50 support and 111.45 resistance.
Expected trend for today: Bearish
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