Overview
The USDJPY pair successfully touched the awaited target in our last report at 112.05 and broke this level strongly by today's opening and settled below it now. Thus the bearish wave is likely to be extended on the intraday and short-term basis, and the price is going to head towards 110.90 as the next main station. Therefore, we expect more bearish bias in the upcoming sessions unless the price managed to breach and hold above 112.60 levels. A break of 110.90 levels will extend the bearish wave to 109.05 on the near-term basis. The expected trading range for today is between the 110.60 support and the 112.60 resistance.
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