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28.07.201715:14 Forex Analysis & Reviews: Daily analysis of USD/JPY for July 28, 2017

Long-term review

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Overview

The USD/JPY pair tested the first key resistance at 111.65 and bounced bearishly from there, as the EMA50 met the mentioned resistance to add more strength to it, which keeps the bearish trend scenario valid until now, and the price needs to break 110.98 level to confirm heading towards 110.15 as a next main target. Stochastic provides a negative overlapping signal that supports the expected decline, while the bearish bias will remain suggested unless breaching 111.65 followed by 112.32 levels and holding above them. The expected trading range for today is between 110.00 support and 111.65 resistance.

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