USDJPY attempts to breach – Analysis - 28-02-2018

The USDJPY pair attempted to breach 107.40 level but could not hold above it, to stuck between the key levels represented by the mentioned resistance and 106.35 support, and as we mentioned in our recent reports, the price needs to breach one of these levels to detect its next targets clearly.

Therefore, our neutrality will remain valid, noting that breaking 106.35 support will complete forming negative pattern that has the ability to push the price towards the recently recorded low at 105.54 as a first station, while breaching 107.40 will lead the price to achieve intraday gains that start at 108.53.

Expected trading range for today is between 106.35 support and 108.00 resistance.

Expected trend for today: Depends on the above mentioned levels