USDJPY loses momentum – Analysis - 05-01-2018

The USDJPY pair fluctuates around the EMA50, and it moves near the key resistance 113.00, and as long as the price is below this level, the correctional bearish trend scenario will remain dominant, waiting to test 111.90 level initially.

Stochastic move at the overbought areas supports the suggested decline, which its targets extend to reach 111.00 after breaking the above mentioned level, while breaching 113.00 represents the key to return to the short term bullish trend.

Expected trading range for today is between 111.90 support and 113.50 resistance.

Expected trend for today: Bearish