30.06.201617:39 Forex Analysis & Reviews: Daily analysis of USD/JPY for June 30, 2016

Long-term review

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Overview

The USDJPY pair keeps fluctuating near 102.88 levels (the 50% Fibonacci level for the last decline from 106.78 to 98.97), where the price makes some bullish correction after the sharp drop shown in the image. The price is likely to resume the overall bearish trend, which gets continuous support from the EMA50. Therefore, the bearish trend scenario remains valid and active unless breaching the 103.80 level and holding above it. We remind you that our main targets begin by surpassing the 100.70 barrier extending the bearish wave towards 69.76 as the next main target. The expected trading range for today is between the101.00 support and the 103.80 resistance.

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