USDJPY - Technical Analysis: Thursday, 23/03/2017 06:41 GMT

The USDJPY pair shows slight recovery attempts and still stable below 112.00 level, to keep the correctional bearish pressure valid until now, especially that the exponential moving average 100 keeps pushing the price to the downside.

Thus, the bearish trend will remain expected for the coming period, noting that our next target is located at 109.94, which represents 50% Fibonacci correction for the rise from 101.21 to 108.66, while the price stability below 112.00 represents the most important condition to continue the expected bearish trend.