USDJPY heads towards the resistance – Analysis - 21-02-2017

The USDJPY pair shows positive trading with the beginning the of this day approaching from the critical resistance at 113.97, which represents one of the next trend keys besides the support that decline now to 112.30, reminding you that the price needs to surpass one of these levels to confirm its next targets clearly.

Therefore, our neutral attitude will remain valid until now, reminding you that breaching 113.97 will lead the price to recover and target 118.00 levels mainly, while breaking 112.30 will return the price to the previously breached bearish channel to head towards 111.60 then 110.00 as next main station.

Expected trading range for today is between 112.30 support and 114.70 resistance.

Expected trend for today: Depends on the above mentioned levels