USDJPY negotiates the resistance – Analysis - 02-10-2017

The USDJPY pair begins today's trading with bullish bias to test the sideways range resistance that dominates the recent trading, which its lines represented by 111.75 support and 112.80 resistance, which urges caution from the upcoming trading, as breaching the mentioned resistance will push the price to achieve gains that reach to the previously recorded top at 114.49 mainly.

In general, the sideways range will remain dominant until the price confirms breaching one of the above mentioned levels, noting that breaking 111.75 support will push the price back to resume its main bearish track and head towards 110.90 followed by 110.06 as initial targets.

Expected trading range for today is between 111.75 support and 113.70 resistance.

Expected trend for today: Sideways