Overview
The USD/JPY pair has settled below 111.65 level, which keeps our bearish scenario valid as the price is still under the effect of the double top pattern. The pair is likely to to resume the bearish bias as its targets begin by testing 110.00. Please note that breaking the mentioned level will extend the bearish wave to reach 106.63 on the near-term basis. Holding below 111.65 represents the key condition to continue the expected decline. The expected trading range for today is between 110.00 support and 112.00 resistance.
