USDJPY presses on the support – Analysis - 12-10-2018

The USDJPY pair attempted to break the key support 111.97 without managing to hold below it until now, noticing that stochastic loses its positive momentum gradually, waiting to motivate the price to resume the bearish bias and break the mentioned support to head towards our next negative target at 111.55.

Until now, the bearish trend scenario still active as long as the price is below 112.95, noting that breaking 111.55 will extend the bearish wave to target 110.38 areas on the near term basis.

Expected trading range for today is between 111.55 support and 112.95 resistance

Expected trend for today: Bearish