JPYUSD analysis 05.08.2020

The dollar versus yen pair traded in a noticeable negativity yesterday, surpassing the SMA 50 and approaching our first awaited target at 105.20, reinforcing expectations for a further decline in the coming sessions, reminding you that breaking the aforementioned level will extend the downside wave to reach 103.65.

Therefore, we will continue to suggest the bearish trend for the upcoming period unless we witness a clear and stable breakout above 106.44.

The expected trading range for today is between 104.70 support and 106.10 resistance.

The expected general trend for today: Bearish.