USDJPY approaches the target – Analysis - 18-07-2018

The USDJPY pair rallied upwards clearly yesterday to approach our waited target at 113.38, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, organized inside the bullish channel that appears on the chart, carried by the EMA50 from below.

Note that breaching the targeted level will extend the pair’s gains to reach 114.65 as a next main station, while the expected rise will remain valid unless breaking 111.90 and the most important 111.32 levels.

Expected trading range for today is between 112.25 support and 113.90 resistance

Expected trend for today: Bullish