USDJPY tests the resistance – Analysis - 10-08-2017
Economies.com
2017-08-10 03:59AM UTC
The USDJPY pair traded with clear positivity yesterday to test the key resistance 110.15, accompanied by stochastic losing its positive momentum clearly on the four hours' time frame, as it reaches the overbought areas now, waiting to motivate the price to rebound bearishly to resume the bearish bias again.
Therefore, our bearish overview will remain valid until now, supported by the negative pressure formed by the EMA50, waiting to target 108.80 mainly, noting that breaching 110.15 followed by 110.98 will push the price to achieve intraday gains that target 112.32 mainly.
Expected trading range for today is between 108.80 support and 110.98 resistance.
Expected trend for today: Bearish
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