USDJPY tests the support base – Analysis - 02-12-2016
Economies.com
2016-12-02 04:51AM UTC
The USDJPY pair hovers around 113.97 level keeping its stability above it, which keeps the bullish trend scenario valid until now, supported by the positive overlapping signal provided by stochastic now, waiting to resume the bullish bias that its targets begin at 118.60 and extend to 120.00.
The EMA50 continues to support the suggested bullish wave, taking into consideration that breaking 113.97 level will stop the expected rise and push the price to start correctional bearish wave on the intraday basis.
Expected trading range for today is between 113.00 support and 115.50 resistance.
Expected trend for today: Bullish
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