The USDJPY breaches the resistance – Analysis - 11-10-2019

The USDJPY pair traded with clear positivity yesterday to breach 107.70 level and settles above it, which stops the recently suggested decline and push the price to achieve more expected rise in the upcoming period, as it achieves bullish correction for the decline measured from 112.39 to 104.39, approaching 50% Fibonacci level at 108.40.

Therefore, we expect witnessing more bullish bias today, and breaching the mentioned correctional level will extend the bullish wave to 109.33 as a next target, while the expected rise will remain valid unless breaking 107.45 and holding below it.

The expected trading range for today is between 107.45 support and 108.80 resistance

The expected trend for today: Bullish