USDJPY begins positively – Analysis - 13-02-2017

The USDJPY pair begins today with clear positivity to breach the bearish channel's resistance and test the most important resistance at 113.97, as the price was affected by the GDP data released from the Japanese economy earlier today, and as long as the price is below the mentioned level, the chances still valid to resume the recently suggested bearish trend, and the price needs to trade below 113.45 again to confirm the return to decline.

Therefore, we will keep our bearish overview for the upcoming sessions, which targets 111.60 followed by 110.00 levels mainly, while breaching 113.97 represents positive factor that will stop the current negative pressure and lead the price to head towards 118.00 initially.

Expected trading range for today is between 112.80 support and 114.30 resistance.

Expected trend for today: Bearish