Forex

The USDJPY suffers sharp losses – Analysis - 21-03-2019

2019-03-21 05:24:39 GMT (Economies.com)

The USDJPY pair declined strongly yesterday to succeed achieving our first waited target at 110.76, starting today with more decline to touch the second target at 110.35, noticing that the price completed forming double top pattern that hints heading for more decline on the short term basis, to extend the next target and reach 109.40 areas.

 

Therefore, we expect the continuation of the bearish trend domination in the upcoming sessions unless the price managed to breach 110.76 level and hold above it.

 

The expected trading range for today is between 109.40 support and 111.00 resistance

 

The expected trend for today: Bearish

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