USDJPY approaches the target – Analysis - 05-02-2019
Economies.com
2019-02-05 04:53AM UTC
The USDJPY pair provided positive trading yesterday to reach the thresholds of the waited target at 110.24, which represents 61.8% Fibonacci correction level for the decline from 113.70 to 104.62, which means that breaching it will push the price to visit 111.56 direct.
The EMA50 supports the price from below, and stochastic begins to get rid of its negative momentum, which supports the chances of continuing the bullish trend in the upcoming sessions, taking into consideration that breaking 109.16 will stop the current rise and press on the price to decline again.
Expected trading range for today is between 109.16 support and 110.70 resistance
Expected trend for today: Bullish
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