USDJPY tests the resistance – Analysis - 03-09-2018

The USDJPY pair tested the key resistance 111.15 and keeps its stability below it, accompanied by stochastic reach to the overbought areas, while the EMA50 forms negative pressure against the price.

Therefore, the chances are valid to resume the expected bearish trend on the intraday and short term basis, which its next main target located at 109.90, noting that breaching 111.15 will push the price to achieve gains that start at 112.00 and extend to reach the recently recorded top at 113.18.

Expected trading range for today is between 110.00 support and 111.60 resistance

Expected trend for today: Bearish