USD JPY didn’t confirm the break – Analysis - 05/10/2015

The USDJPY pair returned to fluctuate within the sideways track that its lines represented by 119.55 support and 120.75 resistance after it made a strong breaking attempt to the mentioned support level in last Friday, so the sideways scenario remains valid and dominant on the intraday trading until confirming breaching one of the mentioned levels.

Note that the price return to break 119.55 level will push the trading to visit 118.25 level initially, while breaching 120.75 resistance represents positive factor that will lead the price to achieve positive targets that reach mainly to 125.85 then 127.00.

Expected trading range for today is between 118.90 support and 121.65 resistance.

Expected trend for today: Sideways