JPYUSD analysis 10.08.2020

The dollar against the yen provided temporary positive trades last Friday, to test the 106.00 barriers, return to decline and gradually head towards our awaited negative target at 105.20 so that the bearish trend scenario remains valid and effective for the upcoming period, supported by the negative sign that the stochastic indicator begins to present now.

The breach of 105.70 is required to reinforce the negative expectations, which will remain valid unless the price rallies to breach 106.44 level and hold above it.

The expected trading range for today is between 104.90 support and 106.20 resistance.

The expected general trend for today: Bearish.