The USDJPY hits the target – Analysis - 16-09-2021

The USDJPY pair managed to touch our waited target at 109.20 and presses negatively on it, to hint the attempt to achieve more potential decline in the upcoming sessions, but we prefer staying neutral until we get clearer signal for the next trend, through monitoring the price behavior according to the mentioned level.

Note that breaking 109.20 will press on the price to achieve additional decline that its targets begin at 108.70 and extend to 107.70, while consolidating above it will lead the price to resume the main bullish wave that targets 109.90 followed by 111.00 levels initially.

The expected trading range for today is between 108.50 support and 109.90 resistance

The expected trend for today: Neutral