FX.co ★ Daily analysis of USD/JPY for March 27, 2017

Overview

The USD/JPY pair resumed its negative trading clearly to succeed to break 110.85 level and settles below it, which supports the continuation of our bearish trend expectations efficiently in the upcoming period, easing the way towards 109.00 as a next main station. Note that the price is affected by the previously completed double top pattern that appears in the image, and its full targets reach to 104.00. Therefore, the negative pressure will remain the dominant on the intraday and short-term basis, unless breaching 111.65 then 112.55 levels and holding above it. The expected trading range for today is between 109.00 support and 111.00 resistance.