The USDJPY faces solid resistance – Analysis - 06-03-2019

The USDJPY pair found difficulty to surpass the recently recorded top at 112.07, to show some bearish bias and approaches 23.6% Fibonacci correction level again, while stochastic reaches the oversold areas to provide positive motive that we are waiting to assist to push the price to continue the main bullish trend.

In general, we will continue to suggest the bullish trend in the upcoming period unless breaking 111.65 level, as breaking this level will extend the correctional bearish wave on the intraday basis, while our main waited positive targets are located at 112.70 and extend to 113.70.

The expected trading range for today is between 111.40 support and 112.70 resistance

The expected trend for today: Bullish