USDJPY completes a positive pattern – Analysis - 30-08-2018

The USDJPY pair breached 111.32 level strongly yesterday and settled above it, and by taking a deeper look at the chart, we find that the price completed forming an inverted head and shoulders’ pattern that appears on the chart, which motivates the price to achieve more expected rise in the upcoming period, supported by the EMA50 that carries the price from below.

Therefore, the bullish trend will be suggested in the upcoming sessions conditioned by the price stability above 111.32, noting that the full target of the mentioned pattern reaches the previously recorded top at 113.18.

Expected trading range for today is between 111.00 support and 112.50 resistance

Expected trend for today: Bullish