FX.co ★ Daily analysis of USD/JPY for September 28, 2016

Overview

The USD/JPY pair keeps trading below 100.70 levels, which keeps the negative pressure valid until now. The EMA50 keeps pushing the price downwards, keeping the bearish trend valid and active on the short- and mid-term bases inside the bearish channel shown on the chart. Our awaited targets begin at 98.00 and extend to 94.76 that represent the 61.8% Fibonacci level for the entire rise measured from 75.55 to 125.84. Holding below 101.80 represents the most important factor for the suggested decline continuation. The expected trading range for today is between the 99.50 support and the 101.30 resistance.