USDJPY faces negative pressure – Analysis - 08-06-2018

The USDJPY pair could not manage to hold for long time above 110.04 level, to fall under negative pressure that puts the price below the mentioned level, but we notice that stochastic shows positive signals that might assist to push the price to rise again.

Therefore, we prefer to stay aside until the price confirms its next destination clearly, through breaching 110.04 resistance or breaking 109.00 support, noting that breaching this resistance will push the price towards 111.32 as a next positive target, while breaking the support will push the pair to return to the main bearish track again, which its next target located at 108.00.

Expected trading range for today is between 109.00 support and 110.50 resistance, 

Expected trend for today: Depends on the above mentioned levels