JPY analysis 12.08.2019

USDJPY has managed to achieve our first awaited target at 105.50, and we note that the price starts today with a bearish bias to move below this level, supporting the expectations for a short-term downside wave, where our next target is at 104.60.

Therefore, the bearish trend will remain valid and likely for today, keeping in mind that the breach of 106.00 may push the price to start fresh recovery attempts over the intraday basis.

Expected trading range for today is between 104.60 support and 106.00 resistance

Expected trend for today: Bearish.