USDJPY under the negative pressure – Analysis - 29-12-2016
Economies.com
2016-12-29 04:53AM UTC
The USDJPY pair bounced bearishly after approaching from 118.00 barrier, to move below the EMA50 and settles below it, noticing that stochastic got rid of its negativity and enters the oversold areas now, providing positive motive that we are waiting to assist to push the price to resume its main bullish trend again.
Therefore, we will keep our bullish overview for the upcoming sessions unless we witnessed clear break to 116.55 level and holding below it, noting that the waited targets begin by breaching 118.50 to open the way to head towards 120.00 as a next main target.
Expected trading range for today is between 116.00 support and 118.00 resistance.
Expected trend for today: Bullish
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