Overview
The USD/JPY pair bounced downwards sharply yesterday after approaching 112.32 levels. Today the pair opened trading with a deeper decline and broke 110.98 levels attempting to hold below it, which supports the continuation of our bearish overview efficiently in the upcoming period with the next main target at 110.15. Therefore, the bearish trend will remain dominant for today supported by the negative pressure formed by the EMA50. Breaching 111.65 and 112.32 levels will stop the expected decline and lead the price to return to the bullish trend on the short-term basis. The expected trading range for today is between the 110.00 support and the 111.65 resistance.
The material has been provided by InstaForex Company - www.instaforex.com
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