Forex

The USDJPY tests the resistance – Analysis - 20-08-2019

2019-08-20 05:03:13 GMT (Economies.com)

The USDJPY pair provided positive trading yesterday to test 106.70 level and settles there, keeping its stability below this level until now, which keeps the bearish trend scenario valid until now, supported by stochastic negativity, waiting for breaking 106.05 level to open the way towards achieving our extended targets that reach to 105.05 then 104.60.

 

Note that breaching 106.70 will stop the expected decline and leads the price to achieve extra gains that reach to 107.70 on the near term basis.

 

The expected trading range for today is between 105.70 support and 107.00 resistance

 

The expected trend for today: Bearish

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