Daily analysis of USD/JPY for September 22, 2019

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Overview

The USD/JPY pair found difficulty to surpass 112.80 level, to rebound downwards clearly and attack 111.75 level now. This hints the price has to return to the main bearish trend after the bullish correction that it witnessed recently. Stochastic is moving downwards on the chart of four-hour time frame that supports the chances of continuing the bearish bias in the upcoming sessions. Please note that the next target is located at 110.90, while the bearish trend will remain valid unless breaching 112.80 and holding above it. The expected trading range for today is between 110.50 support and 112.50 resistance.

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