Forex

The USDJPY completes the negative pattern – Analysis - 18-07-2019

2019-07-18 04:49:39 GMT (Economies.com)

The USDJPY pair succeeded to break the neckline of the head and shoulders’ pattern mentioned in our last report, to activate the negative effect of this pattern, which supports the expectations of continuing the bearish trend in the upcoming period, opening the way to head towards 106.78 that represents our next main target.

 

Therefore, we are waiting for more decline on the intraday and short term basis conditioned by the price stability below 108.10 – 108.30 levels.

 

The expected trading range for today is between 107.00 support and 108.30 resistance

 

The expected trend for today: Bearish

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