Daily analysis of USD/JPY for November 29, 2017

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Overview

The USD/JPY pair resumed the upward bias and approached the key resistance of 111.90. Please note that the EMA50 continues to form the negative pressure in the intraday trading, while stochastic keeps moving in the overbought areas. Therefore, we believe that the chances are valid so that the pair can retreat and resume the correctional bearish trend. The first downward target after breaking 111.00 will confirm a further bearish wave towards 110.15. Let me remind you that holding below 111.90 represents the key condition to continue the expected decline. The expected trading range for today is between 110.50 support and 112.30 resistance.

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