USDJPY tests the support – Analysis - 08-03-2017

The USDJPY pair tests the critical support level at 113.55, which represents one of the next trend keys besides 113.97 resistance, as we mentioned in our last reports, the price needs to breach one of these levels to detect its next trend clearly, which makes us remain neutral until getting clearer signal for the next trend.

The contradiction between the positive support that comes from the EMA50 and stochastic negativity provides another reason for the neutrality, to recognize the details of the expected targets from breaching the above mentioned levels, please review our previous report.

Expected trading range for today is between 112.50 support and 114.50 resistance.

Expected trend for today: Depends on the above mentioned levels