USDJPY analysis 27.05.2020

The US dollar fluctuated in a narrow range slanting back down during the Asian session, to witness its bounce for the fourth session in seven sessions from the top since April 13 against the Japanese yen amid the scarcity of economic data by the Japanese economy and on the cusp of developments and economic data expected today Wednesday by the economy The American is the largest economy in the world.

At exactly 05:53 AM GMT, the US dollar pair fell against the Japanese yen by 0.02% to 107.52 levels compared to the opening levels at 107.54 after the pair achieved its lowest level during the trading session at 107.37, while it achieved the highest at 107.61.

Investors are currently waiting for the US economy, the world's largest industrialized country, to disclose data on the industrial sector, with the release of the Richmond Industrial Index reading, which may reflect a contraction in the contraction of 40 to 53 compared to last April, and that comes before we witness the unveiling of the book Beige What is important is that it is issued two weeks before the FOMC meeting.

Technical analysis

The dollar versus yen pair appears to be trading sideways recently as it appears in the picture and is moving around the EMA50 now, noting that the stochastic indicator begins providing a positive crossover on the four-hour time frame, pending the price stimulus to resume the expected bullish trend for the next period, whose main target is Next at 109.22.

Therefore, we will maintain our bullish expectations unless the 107.35 level is broken and stability below it.

The expected trading range for today is between 107.00 support and 108.40 resistance.

Expected trend for today: bullish.