The USDJPY pair opens today’s trading with clear bearish bias to move below the EMA50, reinforcing the expectations of continuing the expected bearish trend on the intraday basis, which targets testing 111.50 followed by 110.86 levels mainly.
Note that breaking the last level will extend the bearish wave on the short term basis to reach 110.08 as a next target, while breaching 112.14 represents the key to return to resume the main bullish trend again.
The expected trading range for today is between 111.00 support and 112.40 resistance
The expected trend for today: Bearish