USDJPY presses on the channel’s support – Analysis - 27-09-2018

The USDJPY pair attempted to break the intraday bullish channel’s support line but it returns to fluctuate around it, noticing that the EMA50 keeps supporting the price from below, while stochastic approaches the oversold areas.

Therefore, we believe that the chances are valid to resume the expected bullish trend on the intraday and short term basis, which its targets begin at 113.18 and extend to 114.00, while holding above 112.40 represents key condition to achieve these targets.

Expected trading range for today is between 112.40 support and 113.70 resistance

Expected trend for today: Bullish