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The USD/JPY awaits the break – Analysis – 23/11/2020

jpy_3_newsThe USDJPY pair continues to fluctuate at 103.65 level, and the price falls under the negative pressure formed by the EMA50, while stochastic begins overlapping negatively now.

Therefore, these factors support the chances of breaking the above mentioned level to open the way to head towards 103.00 as a next negative station, noting that breaching 104.20 will stop the expected decline and push the price to achieve intraday gains that reach 105.20 before any new attempt to decline.

The expected trading range for today is between 103.00 support and 104.30 resistance

The expected trend for today: Bearish

Origin: Economies