Overview

The USD/JPY pair is trading with a quiet bearish bias to approach the key support 111.90 gradually. We are waiting until the pair breaks this level to confirm a further bearish wave towards our next target at 111.00. In general, we will continue to suggest the bearish trend in the upcoming period supported by the EMA50 that reinforces further trading inside the bearish channel that appears on the chart. Please note that breaching 113.00 – 113.15 levels will lead the price to return to the main bullish trend again and stop the current bearish correction. The expected trading range for today is between 111.50 support and 113.00 resistance.