USDJPY tests the support – Analysis - 22-02-2018

Economies.com
2018-02-22 05:03AM UTC

The USDJPY pair opens today’s trading with clear decline to test the key support 107.28 and keeps its stability above it until now, as the EMA50 meets the mentioned support to add more strength to it, while stochastic gains the positive momentum clearly to approach the oversold areas.

 

Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming sessions, reminding you that our next target is located at 109.04, while breaking 107.28 and holding with a daily close below it represents the key to return to the main bearish trend again.

 

Expected trading range for today is between 106.70 support and 108.20 resistance.

 

Expected trend for today: Bullish

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