JPYUSD analysis 29.07.2020

The dollar versus the yen succeeded in breaking the 105.20 level and holding below it, which supports the continuation of our effective forecasts for the downside for the coming period, supported by the EMA50, awaiting the direction towards 103.65 which represents our next main station.

On the other hand, we should pay attention to that breaching 105.20 and holding above it will stop the negative scenario and lead the price for intraday gains that start with visiting 106.00 then 106.44 levels before any attempt to resume the downside main wave.

The expected trading range for today is between 104.20 support and 105.70 resistance.

Expected trend for today: bearish.