The USDJPY hits the target – Analysis - 01-03-2019

The USDJPY pair succeeded to achieve our waited target at 111.56 and breaches it to settle above it, which supports the chances of extending the bullish wave on the short term basis, organized inside the bullish channel that appears on the chart, paving the way to visit the recently recorded top at 113.70 as a next main target.

Therefore, we expect the continuation of the bullish trend domination in the upcoming sessions, taking into consideration that breaking 111.56 and holding below it will stop the suggested rise and put the price under expected negative pressure on the intraday basis.

The expected trading range for today is between 111.00 support and 112.55 resistance

The expected trend for today: Bullish