USDJPY analysis 11.08.2020

The dollar against the yen is testing the resistance line that appears in the above chart and maintains its stability below it, which keeps our bearish expectations valid for the upcoming period, waiting for the direction towards 105.20 as a first major stop.

We note that breaking 105.75 will make it easier for the price to achieve the aforementioned target, while stability below 106.44 is a prerequisite for the continuation of the expected decline.

The expected trading range for today is between 105.20 support and 106.20 resistance.

The expected general trend for today: Bearish.