FX.co ★ Daily analysis of USD/JPY for January 26, 2017

Overview

The USDJPY pair made a new test of the 113.97 level and hold below it keeping the negative pressure valid until now, supported by the EMA50 that keeps pushing the price to the downside. Stochastic generates negative signals. Therefore, we are waiting for negative trading in the upcoming sessions, and the awaited targets begin at 111.90 and extend to 109.00. Holding below 114.00 represents the key condition to achieve the suggested targets. The expected trading range for today is between the 112.00 support and the 114.00 resistance.