USDJPY tests the first resistance – Analysis - 21-11-2018
Economies.com
2018-11-21 05:11AM UTC
The USDJPY pair tests the first key resistance 112.96, accompanied by stochastic reach to the overbought areas, while the EMA50 forms negative pressure against the price.
Therefore, we believe that the chances are valid to rebound bearishly and resume the bearish trend in the upcoming sessions, and the price needs to break 112.46 to confirm targeting 111.97 level, reminding you that the continuation of the expected decline depends on the price stability below 112.96 and the most important below 113.56.
Expected trading range for today is between 112.00 support and 113.30 resistance
Expected trend for today: Bearish
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