USDJPY tests the moving average – Analysis - 04-01-2018

The USDJPY pair provided positive trading yesterday to test the EMA50 that forms good intraday resistance, noticing that stochastic loses its positive momentum clearly to reach the thresholds of the overbought areas now, which forms negative factor that we are waiting to motivate the price to decline again, which keeps the correctional bearish scenario active for the upcoming period, waiting to test 111.90 level initially.

Therefore, the bearish trend will remain suggested for today, and breaking the targeted level will extend the bearish wave towards 111.00, while holding below 113.00 represents the most important condition to continue the expected decline.

Expected trading range for today is between 111.70 support and 113.20 resistance.

Expected trend for today: Bearish