The Yen is at risk of extending recent losses against its major currencies, as rising inflation expectations, the likelihood of an additional fiscal stimulus and a positive vaccine progress affects the safe haven-associated currency.
The pair keeps its stability above 105.50 level, getting continuous positive support by the EMA50, noticing that stochastic reaches the oversold areas now.
Therefore, we believe that the chances valid to resume the intraday bullish trend, which targets 106.00 followed by 106.44 levels mainly, while achieving them requires holding above 105.20.
The expected trading range for today is between 104.90 support and 106.30 resistance.
With no economic news on the horizon for today, we expect the trend for today to be Bullish.
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