Japanese Yen Analysis 01.10.2021

The dollar against the yen pair rebounded significantly after testing the 112.00 barrier, to start a bearish correction for the rise that started from 109.10 areas, on its way to visit the 110.95 level, which represents the 38.2% Fibonacci level, noting that breaking this level will push the price to 110.25 as a next station.

Therefore, the bearish bias will be likely for the upcoming period, noting that breaching 112.05 will stop the expected bearish correction and lead the price to resume the main bullish trend again.

The expected trading range for today is between the support 110.60 and the resistance 111.90

The forecast general trend for today: Bearish