USD JPY within sideways track – Analysis - 02/10/2015
Economies.com
2015-10-02 04:43AM UTC
The USDJPY pair continues to fluctuate within sideways range between 119.55 support and 120.75 resistance, noticing that stochastic positivity contradicts the EMA50 negativity, which supports the continuation of the sideways bias in the upcoming sessions.
In general, we are waiting to breach one of the above mentioned levels to detect the next destination clearly, reminding you that breaching 120.75 resistance will lead the price to regain the main bullish trend that its main targets located at 125.85 followed by 127.00, while breaking 119.55 support will push the price to test 118.25 level initially.
Expected trading range for today is between 118.90 support and 121.65 resistance.
Expected trend for today: Sideways
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