USDJPY begins positively – Analysis - 03-10-2017

The USDJPY pair achieved clear breach to 112.80 level with the opening of today’s trading and closed the last four hours above it, which make the price exit the sideways range that controlled the last trading and activates the bullish trend scenario on the short term basis, opening the way towards visiting the recorded top at 114.49 as a next main station.

Stochastic shows clear positive signal on the four hours’ time frame, while the EMA50 provides positive support for the price, these factors encourage us to prefer the bullish trend for today, which will remain active unless breaking 112.80 level and holding below it.

Expected trading range for today is between 112.50 support and 114.20 resistance.

Expected trend for today: Bullish