USDJPY keeps the support base – Analysis - 17-03-2017

Economies.com
2017-03-17 05:15AM UTC

The USDJPY pair fluctuates near the previously breached bearish channel’s resistance that turns into support now at 113.05, which keeps the bullish trend scenario valid until now, and the price needs to breach 113.97 level to confirm the continuation of the suggested bullish bias, targeting 117.65 levels mainly.

 

Therefore, we will keep our positive expectations for today unless breaking 113.05 level and holding below it, pointing that breaking this level will push the price to decline again and head to 111.65 levels initially. 

 

Expected trading range for today is between 112.50 support and 114.50 resistance.

 

Expected trend for today: Bullish

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