FX.co ★ Daily analysis of USD/JPY for July 20, 2017

Overview

The USD/JPY pair touched 111.65 level again and found solid support there. The pair is expected to break this level to confirm a further correctional bearish wave on the short-term basis to head towards 110.98 level that represents the next correctional level. The EMA50 keeps pushing negatively on the price, to support the continuation of our bearish overview in the upcoming period. Please bear in mind that breaching 112.32 will stop the expected decline and lead the price to regain the main bullish trend again. The expected trading range for today is between 111.00 support and 112.30 resistance.