USDJPY loses momentum – Analysis - 07-01-2019
Economies.com
2019-01-07 05:23AM UTC
The USDJPY pair begins today’s trading with bearish bias to start pressing negatively on the key support 108.10, as the price is affected by stochastic negativity, besides the negative pressure formed by the EMA50, which hints that the price is on its way to resume the main bearish trend, which was stopped for some temporary bullish correction.
Therefore, we suggest the domination of the bearish trend on the upcoming trading, and the next target is located at 106.77, taking into consideration that the price stability above 108.10 today will stop the suggested negative scenario and push the price for more bullish correction.
Expected trading range for today is between 107.00 support and 108.70 resistance
Expected trend for today: Bearish
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