The USDJPY gathers the positive momentum – Analysis - 07-10-2021
The USDJPY pair tests the support line formed above 111.40 after breaching it previously, noticing that the EMA50 continues to support the price from below, while stochastic provides positive signals now.
Therefore, the chances valid to resume the expected bullish trend for the upcoming period, which targets testing 112.05 as a next station, taking into consideration that breaking 110.95 will stop the suggested positive scenario and press on the price to start new bearish correction.
The expected trading range for today is between 110.95 support and 112.20 resistance
The expected trend for today: Bullish