Forex

The USDJPY faces negative pressure – Analysis - 19-03-2019

2019-03-19 05:05:55 GMT (Economies.com)

The USDJPY pair could not manage to hold for long time above 111.67 level, to trade with clear negativity yesterday and break the bullish channel’s support line that appears on the chart, which hints the price head to turn to decline, and the price approaches testing the key support 111.00, noting that breaking this level will confirm the continuation of the bearish bias towards 110.76 followed by 110.35 levels as next negative stations.

 

Therefore, the bearish trend will be suggested for today unless the price managed to rally to breach 111.67 level and hold above it.

 

The expected trading range for today is between 110.35 support and 111.70 resistance

 

The expected trend for today: Bearish

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