USDJPY returns to decline – Analysis - 19-01-2018

The USDJPY pair failed to hold for long time above 111.00 level, as it faced solid resistance formed by the EMA50, which forced the price to decline and move below the mentioned level again, which pushes the price to resume the correctional bearish track that its next target located at 110.15.

Therefore, we expect the domination of the bearish trend in the upcoming sessions, and breaking the targeted level will extend the bearish wave towards 109.06, while the expected decline will remain active unless the price managed to breach 111.00 followed by 111.30 levels and hold above them.

Expected trading range for today is between 110.00 support and 111.30 resistance.

Expected trend for today: Bearish