USDJPY loses momentum – Analysis - 25-07-2017

USDJPY loses momentum – Analysis - 25-07-2017

25 July 2017, 11:13
Roman Vashchilin
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The USDJPY pair provided positive trading yesterday to settle above 111.00 barrier, noticing that stochastic lost its positive momentum clearly to reach the overbought areas now, which forms negative factor that we are waiting to assist to push the price to resume the bearish bias again, as we are waiting to extend the bearish wave to target 110.15 areas in the upcoming period.

 

Therefore, we will continue to suggest the bearish trend for today supported by the negative pressure formed by the EMA50, reminding you that breaching 111.65 followed by 112.32 levels will push the price to return to the main bullish trend again and stop the current correctional bearish pressure.

 

Expected trading range for today is between 110.00 support and 112.00 resistance.

 

Expected trend for today: Bearish

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