FX.co ★ Daily analysis of USD/JPY for May 22, 2018

Overview

The USD/JPY pair succeeded to touch our main anticipated target at 111.32 and went bearishly from there. This means that the price is heading to test 110.04 in the upcoming sessions, on the grounds of stochastic's current negativity. Therefore, the bearish trend remains valid for today unless the price manages to breach 111.32 and holds above it. Noting that breaking 110.04 will push the price towards 109.00 as the next negative target. The expected trading range for today is between 110.00 support and 111.60 resistance.