USDJPY hits the target – Analysis - 17-01-2018
Economies.com
2018-01-17 05:31AM UTC
The USDJPY pair succeeded to reach our waited target at 110.15, showing some bullish bias to test the intraday bearish channel's resistance that appears on the chart, and according to the trading rules inside the channels, we will be waiting for bearish rebound to resume the bearish bias in the upcoming sessions, noting that breaking the mentioned level will push the price towards 109.06 direct.
Therefore, we will continue to suggest the bearish trend in the upcoming period unless the price managed to breach 111.00 followed by 111.90 levels and hold above them.
Expected trading range for today is between 109.80 support and 111.20 resistance.
Expected trend for today: Bearish
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