USDJPY faces solid support – Analysis - 20-07-2017

USDJPY faces solid support – Analysis - 20-07-2017

20 July 2017, 09:05
Roman Vashchilin

The USDJPY pair touched 111.65 level again and found solid support there, waiting to break this level to confirm extending the correctional bearish wave on the short term basis to head towards 110.98 level that represents the next correctional level.

The EMA50 keeps pushing negatively on the price, to support the continuation of our bearish overview in the upcoming period, taking into consideration that breaching 112.32 will stop the suggested decline and lead the price to attempt to regain the main bullish trend again.

Expected trading range for today is between 111.00 support and 112.30 resistance.

Expected trend for today: Bearish

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