USDJPY begins the recovery trip – Analysis - 29-08-2016
Economies.com
2016-08-29 03:56AM UTC
The USDJPY pair rallied sharply to the upside on last Friday to settle above 102.00 barrier, which stops the correctional bearish pressure mentioned in our recent reports and open the way to achieve more gains in the upcoming period, as the price heads towards testing the bearish channel's resistance at 104.15 as a first main target, noting that breaching this level will extend the pair's gains to reach 106.63.
Therefore, the bullish trend will be suggested in the upcoming period supported by the EMA50, unless the price returned to break 100.70 level and hold with a daily close below it.
Expected trading range for today is between 101.00 support and 103.50 resistance.
Expected trend for today: Bullish
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