USDJPY breaches the resistance – Analysis - 01-12-2016
Economies.com
2016-12-01 05:06AM UTC
The USDJPY pair rallied upwards strongly yesterday to breach 113.97 level and close the daily candlestick above it, which opens the way to extend the bullish wave on the short term and medium term basis, paving the way to target areas that start at 118.60 and extend to 120.00 mainly.
Therefore, the bullish trend will be suggested in the upcoming period unless breaking 113.97 level and holding below it, noting that the EMA50 and stochastic provide positive signals that support the expected rise.
Expected trading range for today is between 113.50 support and 115.50 resistance.
Expected trend for today: Bullish
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