Overview
The USD/JPY pair is displaying calm sideways trading after approaching from 101.00 barrier yesterday. Please be aware that stochastic loses its positive momentum clearly to reach the thresholds of the overbought areas. It is forming negative factor that are likely to push the price to resume the bearish bias in the upcoming sessions, waiting to test 100.70 level mainly. Therefore, we still suggest the bearish trend on the intraday and short-term basis, organized inside the bearish channel that appears on the chart. Let me remind you that breaking the targeted level will extend the bearish wave to reach 94.76 as a next main station, while holding below 103.25 represents the key condition to continue the expected decline.
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