13.05.2020
The dollar against the yen trades bounced lower after testing the 107.68 level, and as we indicated yesterday, this level represents the resistance of the sideways range that confines the intraday trading, and whose support level is at 106.44, to make the bearish bias likely for the day.
In general, the sideways range will remain in control until the price is able to breach one of the above-mentioned levels, noting that breaking the support will put the price under the negative pressure that initially targets 105.20 while breaking the resistance will lead the price to achieve additional gains that reach 109.22.
The expected trading range for today is between 106.40 support and 108.00 resistance.
Expected trend for today: sideways.
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