USD JPY within sideways track – Analysis - 01/12/2015
Economies.com
2015-12-01 05:51AM UTC
The USDJPY pair last trading confined between the recently recorded top at 123.74 and 23.6% Fibonacci correction level at 122.40, as long as the price above this level, so the bullish trend will remain valid in the upcoming period, waiting for breaching the mentioned top to confirm opening the way towards 125.85 as a next main target.
Stochastic attempts to get rid of its negativity and gaining enough positive momentum to push the price to achieve the required breach, pointing that breaking 122.40 level will push the price to test 121.60 level initially before any new attempt to rise.
Expected trading range for today is between 122.00 support and 124.00 resistance.
Expected trend for today: Bullish
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