USDJPY breaches the first resistance – Analysis - 18-01-2018

The USDJPY pair breached 111.00 level and settled above it, which hints that the price begins attempts to regain the main bullish trend, which stopped for some bearish correction recently, as the decline stopped at 61.8% Fibonacci for the rise from 107.31 to 114.73.

Therefore, the bullish trend will be suggested for today, and the first target is represented by testing 111.90, noting that breaching this level will extend the pair's gains to reach 113.00 direct, while the expected rise will remain valid unless breaking 111.00 level and holding below it again.

Expected trading range for today is between 110.70 support and 112.30 resistance.

Expected trend for today: Bullish