The USDJPY achieves strong gains – Analysis - 03-06-2020

The USDJPY pair rallied upwards strongly yesterday to breach 108.00 level and resumes the bullish track, reinforcing the expectations of achieving more rise in the upcoming period, as it moves inside an intraday bullish channel that appears on the chart, which supports the chances of achieving our main waited positive target at 109.22.

Therefore, the bullish trend scenario will remain valid for the upcoming period, it might be preceded by some temporary bearish bias affected by stochastic negativity, reminding you that holding above 107.35 is important to continue the suggested rise.

The expected trading range for today is between 107.70 support and 109.22 resistance

The expected trend for today: Bullish