USDJPY analysis 30.01.2020

The dollar versus the yen resumed its negative trading after approaching the level of 109.33 in the previous sessions, and it is under constant negative pressure coming from the EMA50, to keep the bearish trend valid and active in the intraday basis, noting that our awaited target is at 108.40.

We point out that breaching the target level will extend the descending wave to reach 107.45, while the expected decline will remain valid unless the 109.33 level is breached and a daily closing remains above it.

The expected trading range for today is between 108.20 support and 109.50 resistance.

Expected trend for today: bearish.