Narrow fluctuations dominated the USD/JPY transaction, and the exchange rate remained below 109.20. It is worth noting that from the daily chart, stochastic indicators begin to provide negative signals, which supports the possibility of USD/JPY continuing to bear short expectations in the day and short-term. The first target is at 107.68, if it falls below this level , USD/JPY may fall further to 106.44.
(USD/JPY daily chart source: Economies.com)
On the other hand, we should point out that once the USD/JPY breaks through 109.20, this will push the exchange rate to test 111.10 before attempting to fall.
Today’s USD/JPY trading is expected to be between support at 107.70 and resistance at 109.50.
Today’s expected trend for USD/JPY is generally bearish.