USDJPY approaches from the target – Analysis - 26-04-2017

The USDJPY pair continues the rise to approach from our waited target at 111.65, which represents the previously broken neckline of the double top pattern that appears in the image, therefore, we will be waiting for a bearish rebound after testing the mentioned level, to resume the main bearish trend on the short term basis.

Therefore, the rise remains preferred temporarily, being aware that breaching 111.65 will lead the price to achieve more of the rises that reach to 113.65 as a next main station.

Expected trading range for today is between 110.50 support and 112.00 resistance.

Expected trend for today: Bullish temporarily