USDJPY crawls upwards – Analysis - 25-09-2018

The USDJPY pair continues to rise to approach our waited target at 113.18, which represents this year’s high, noticing that the price moves inside the bullish channel that carries the price since the beginning of this month, which hints the price head to breach the mentioned level and open the way to head towards 114.00 as a next station.

The EMA50 keeps supporting the price from below, which reinforces the expectations of continuing the bullish trend on the intraday and short term basis, taking into consideration that holding above 112.15 is important to achieve the suggested targets.

Expected trading range for today is between 112.15 support and 113.60 resistance

Expected trend for today: Bullish