USDJPY surpasses the first target – Analysis - 09-08-2017

The USDJPY pair opened today's trading with strong negativity to manage to break 110.15 level and hold below it, which supports the continuation of our bearish overview efficiently on the short term basis, as the price returns to the bearish channel that appears on chart, falling under continuous negative pressure provided by the EMA50.

Therefore, the way is open to continue the bearish trend in the upcoming sessions, as our next target is located at 108.80, taking into consideration that breaching 110.15 followed by 110.98 levels will stop the expected decline and lead the price to start attempts to regain the main bullish trend.

Expected trading range for today is between 108.80 support and 110.50 resistance.

Expected trend for today: Bearish