USDJPY approaches from the target – Analysis - 17-02-2017

The USDJPY pair traded negatively yesterday to approach from the critical support that declines now to 112.80, where this level represents one of the next trend keys besides 113.97 resistance, waiting for breaching one of them to detect the next trend clearly.

Therefore, our neutral attitude remains valid until now, until we get clearer confirmation signal for the next trend, reminding you that breaking 112.80 level will push the price to decline and target levels that begin at 111.60 and extend to 110.00, while breaching 113.97 will lead the price to recover and achieve gains that its main targets reach to 118.00 levels.

Expected trading range for today is between 112.00 support and 114.40 resistance.

Expected trend for today: Depends on the above mentioned levels