USDJPY leans on the channel's support – Analysis - 30-12-2016

The USDJPY pair ended yesterday's trading at 116.55, leaning on the minor bearish channel's support that appears on chart by today's opening to rebound bullishly, attempting to resume the main bullish trend, supported by stochastic positivity on the four hours' time frame.

Therefore, we believe that the chances are valid to continue rising in the upcoming sessions, and the price needs to breach 117.60 level to ease the mission of achieving our positive targets that starts at 118.40 and extend to 120.00, taking into consideration that breaking 115.90 level will stop the suggested positive scenario and push the price to head towards 113.97 mainly.

Expected trading range for today is between 116.00 support and 118.00 resistance.

Expected trend for today: Bullish