Overview
The USD/JPY pair fluctuates near the broken neckline of the double top pattern at 111.65 and settled below it. That keeps the negative effect for this pattern active until now. It is supported by the meet of the EMA50 with this level to strengthen it. Therefore, we prefer the bearish trend in the upcoming period and its main targets begin at 109.00. We remind you that breaching 111.65 level will push the price to recover and test levels beginning at 112.30 and extending to 113.97. The expected trading range for today is between 110.00 support and 112.00 resistance.
