The USDJPY affected by the negative momentum – Analysis - 07-11-2019
Economies.com
2019-11-07 05:49AM UTC
The USDJPY pair continues to decline to approach 108.40 level, noticing that stochastic got rid of its negative momentum to reach the oversold areas, waiting to motivate the price to rebound bullishly and resume the bullish trend that moves organized inside the bullish channel that appears on the chart, which its targets begin by breaching 109.33 to confirm opening the way to head towards 110.50.
Therefore, our bullish overview will remain valid and active unless breaking 108.40 level and holding below it.
The expected trading range for today is between 108.00 support and 109.50 resistance
The expected trend for today: Bullish
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