USDJPY tests the key resistance – Analysis - 11-09-2018

The USDJPY pair traded with clear positivity yesterday to breach 111.16 and test the most important resistance to the short term trades at 111.45, and still below the last level, while stochastic continues to move at the overbought areas, which keeps the bearish trend scenario valid until now, and the price needs to trade below 111.16 to confirm resuming the bearish bias that its next main target located at 109.90.

We should note that breaching 111.45 will lead the price to turn to rise and achieve positive targets that start at 112.00 and extend to 113.18.

Expected trading range for today is between 110.50 support and 112.00 resistance

Expected trend for today: Bearish