USDJPY analysis 06.12.2019

The dollar against the yen pair started to rebound downward after testing SMA 50 in the previous sessions, to support the expectations of the continuation of the downside trend, waiting for the test of the level of 108.40 initially, noting that breaking this level will push the price towards 107.45 directly.

Thus, the downside trend will remain valid and active for the upcoming period unless the price rushes to breach the 109.33 level and hold above it.

The expected trading range for today is between 107.80 support and 109.33 resistance.

Expected trend for today: bearish.