USDJPY retests – Analysis - 16-01-2018

The USDJPY pair retests 111.00 level that was broken previously, affected by stochastic positivity that loses its bullish momentum clearly to approach the overbought areas, while the EMA50 forms negative pressure against the intraday trades.

Therefore, these factors encourage us to continue suggesting the bearish trend domination in the upcoming sessions, as our next target is located at 110.15, reminding you that breaking this level will extend the pair's losses to reach 109.06 as a next station, while the expected decline will remain valid unless the price rallied to breach 111.90 level and hold above it.

Expected trading range for today is between 109.80 support and 111.50 resistance.

Expected trend for today: Bearish