Daily analysis of USD/JPY for July 13, 2017

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Overview

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The USD/JPY pair struggled to break 113.15 level yesterday but failed to hold below it. So the pair continues fluctuating around this level. USD/JPY has settled below the EMA50 that forms negative pressure in the intraday trading. Therefore, the correctional bearish trend will remain valid on the intraday basis. Let me remind you that our next main target is located at 112.32, while the expected decline will remain valid unless the price manages to breach 113.65 followed by 114.00 and holding above them. The expected trading range for today is between 112.32 support and 114.00 resistance.

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