Daily Outlook of USD/JPY

27 Nov 2017

USD JPY the pair shows overall Bearish trend,Fed's dovish minutes weighed on US yields, saved on Friday by a strong bounce in their European pairs.The news helped tighten the spread between U.S. Government Bonds and Japanese Government Bonds.this helped make the Japanese Yen a more attractive currency. As technically the pair trading on support zone 111.06 as it tested strong resistance 111.68,we will continue to suggest the bearish trend in the upcoming period supported by the negative formation that its signs appear on the above chart, waiting to break 111.00 to confirm heading towards 110.15 direct, noting that breaching 111.90 will lead the price to start recovery attempts and stop the current correctional bearish pressure. Expected the pair trading in range of 111.00 support and 111.90 resistance.We don’t like buying or selling the pair at this stage