The USDJPY hits the targets – Analysis - 16-03-2020

The USDJPY pair succeeded to achieve the positive targets mentioned in our last report at 106.68 and 107.98 and stopped at the last level, starting today with clear negativity to attack the first level that forms support base after breaching it previously, noting that we suggest resuming the bullish trend in the upcoming sessions, and the price needs to hold above 105.38 to keep the positive scenario active.

Breaching 107.98 is required to confirm extending the bullish wave towards 109.60 followed by 111.30 levels, taking into consideration that breaking 105.38 will stop the expected rise and puts the price under the negative pressure again.

The expected trading range for today is between 106.00 support and 108.00 resistance

The expected trend for today: Bullish