USDJPY faces negative pressure – Analysis - 04-10-2017
Economies.com
2017-10-04 03:41AM UTC
The USDJPY pair begins today's trading with clear negativity to move below 112.80 again, but we will depend on the daily candlestick above the mentioned level to keep our positive overview for the upcoming period, supported by stochastic reach to the oversold areas, besides the positive support provided by the EMA50.
Therefore, we believe that the chances are valid to resume the bullish bias in the upcoming sessions, and the main target is located at 114.49, while breaking 112.45 represents negative factor that will push the price to test 111.75 initially.
Expected trading range for today is between 112.00 support and 113.50 resistance.
Expected trend for today: Bullish
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