USDJPY tests the minor resistance – Analysis - 21-04-2017
Economies.com
2017-04-21 03:57AM UTC
The USDJPY pair fluctuates around the rising wedge's resistance that confines the recent trading, noticing that the EMA50 keeps pushing negatively on the price, while stochastic shows clear negative signals on the four hours' time frame.
Therefore, the bearish trend scenario will remain valid for the upcoming period, and breaking 108.60 level will ease the mission of heading towards our next target at 106.63, reminding you that breaching 109.30 will lead the price to test the key resistance 111.65 on the near term basis.
Expected trading range for today is between 108.00 support and 109.90 resistance.
Expected trend for today: Bearish
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