Japanese Yen Analysis 06-07-2021

The dollar against the yen pair shows quiet negative trading, moving below the EMA50, which supports the continuation of our expectations for the bearish trend, which aims to test the support of the ascending channel, which is now at 110.20.

Therefore, we await further decline on the intraday basis, noting that the breach of 111.10 represents an initial key to start recovery attempts and resume the main bullish trend again.

The expected trading range for today is between the support 110.20 and the resistance 111.30

The forecast general trend for today: Bearish