USDJPY breaches the resistance – Analysis - 02-05-2017
Economies.com
2017-05-02 04:38AM UTC
The USDJPY pair achieved a breach to 111.65 level and it settled with a daily close above it, to complete forming the inverted head and shoulders pattern that its lines appear in the image, opening the way towards achieving more of the gains in the upcoming period, and the first target represented by testing 113.97 level.
Therefore, the bullish trend will be preferred for today supported by the EMA50, being aware that breaking 111.65 will stop the suggested rise and pushes the price to return to the bearish correctional track.
Expected trading range for today is between 111.00 support and 113.00 resistance.
Expected trend for today: Bullish
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