USDJPY tests the resistance – Analysis - 31-07-2018

The USDJPY pair settles near 111.32 level, and the price keeps its stability below this level, while the EMA50 keeps forming the negative pressure against the price.

Therefore, these factors support the continuation of our bearish overview, which targets 110.04 level as a next main station, while breaching 111.32 represents the key to turn to rise on the intraday and short term basis, to head towards achieving positive targets that start at 112.00 and extend to 113.38.

Expected trading range for today is between 110.30 support and 111.70 resistance

Expected trend for today: Bearish