Forex

The USDJPY retests again – Analysis - 22-07-2019

2019-07-22 05:12:32 GMT (Economies.com)

The USDJPY pair shows positive trading now to retest the previously broken neckline of the head and shoulders’ pattern, and the EMA50 meets the current resistance areas to add more strength to it, accompanied by witnessing overbought signals through stochastic.

 

Therefore, we believe that the chances are valid to trade negatively in the upcoming sessions, targeting 106.78 level mainly, while holding below 108.10 represents key condition to achieve the mentioned target.

 

The expected trading range for today is between 107.00 support and 108.50 resistance

 

The expected trend for today: Bearish

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