The USDJPY pair trades near the critical support at 108.40, and it is under the negative pressure that comes from the EMA50, which supports the chances for breaking the mentioned level to open the way towards the continuation of the bearish bias in the upcoming sessions, where its next target at 107.45.
Therefore, we will keep preferring the bearish trend on the intraday and short term basis unless breaching 109.33 level and holding above it.
The expected trading range for today is between 107.80 support and 109.00 resistance
The expected trend for today: Bearish