USDJPY resumes the decline – Analysis - 15-06-2017

The USDJPY pair traded with clear negativity yesterday to attack 109.00 level and attempts to break it, but it returns to fluctuate above it, which supports the continuation of the expected bearish trend scenario in the upcoming period, which gets continuous support from the EMA50, organized within the bearish channel that appears in the image.

Therefore, we wait for more of the downside moves in the upcoming sessions, reminding you that our extended target reaches to 106.63, taking into consideration that the continuation of the expected bearish trend depends on the stability below 110.80 level.

Expected trading range for today is between 108.00 support and 110.15 resistance.

Expected trend for today: Bearish