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Expert In



Daily analysis of USD/JPY for January 31, 2018



The USD/JPY pair is fluctuating around 109.05 level. In case the pair remains below it, the negative pressure is likely to continue on the intraday and short-term basis. It is especially probably provided that the EMA50 keeps pushing the price downwards and protects further trading inside the bearish channel that is dislayed on the chart. Besides that stochastic is losing bullish momentum gradually. Therefore, the bearish trend will remain valid for today on condition of holding below 109.05. Please note that the main anticipated target is set at 107.28. The expected trading range for today is between 107.85 support and 109.40 resistance.

The material has been provided by InstaForex Company -