The USDJPY breaches the resistance – Analysis - 10-12-2020

The USDJPY pair surpassed the resistance line that appears on the chart and heads towards testing 104.76 areas now, to notice that the price moves within sideways track between the mentioned resistance and 103.65 support, which makes us suggest witnessing sideways trades in the upcoming sessions until managing to surpass one of the mentioned levels.

Note that breaching 104.76 resistance will push the price to achieve more gains that start by testing 105.20 and extend to 106.00, while breaking 103.65 support will press on the price to resume the main bearish track that its next target located at 103.00.

The expected trading range for today is between 103.65 support and 105.20 resistance

The expected trend for today: Sideways