The USDJPY breaches the resistance – Analysis - 07-12-2021

The USDJPY pair ended yesterday with clear positivity to breach 113.07 and settles above it, which hints the price attempt to stop the correctional bearish wave and regain the main bullish trend, and it needs to breach 114.00 to confirm the continuation of the rise in the upcoming period.

Now, we prefer to stay aside until the price confirms surpassing one of the above mentioned levels to detect the next destination clearly, noting that breaching 114.00 resistance will push the price to achieve additional gains that start at 114.70 and extend to 115.50, while breaking 113.07 support will press on the price to decline again and visit 112.30 as a next correctional target.

The expected trading range for today is between 112.90 support and 114.20 resistance

The expected trend for today: Neutral