USDJPY suffers sharp losses – Analysis - 03-01-2019
Economies.com
2019-01-03 05:23AM UTC
The USDJPY pair collapsed by today’s opening to surpass our waited targets and reach below 105.00 areas, bouncing bullishly to settle around 107.00 barrier now, which supports the expectations of continuing the bearish trend on the short term basis, noting that breaking 104.60 will cause more losses and negative targets that extend to 102.55.
Therefore, we will continue to suggest the bearish trend in the upcoming period, noting that breaching 108.10 will lead the price to start recovery attempts that target testing 110.40 areas initially.
Expected trading range for today is between 106.00 support and 108.10 resistance
Expected trend for today: Bearish
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