USDJPY within tight range – Analysis - 14-02-2017
Economies.com
2017-02-14 05:36AM UTC
The tight range controlled the USDJPY pair’s trading yesterday, to remain stable below 113.97 level, while stochastic begins to decline on the four hours time frame, to support the chances for resuming the bearish trend on the intraday and short term basis, where the bearish trend scenario remains active if the price settled below the mentioned level.
Therefore, we wait for negative trading in the upcoming sessions, and the expected targets begin at 111.60 and extend to 110.00, reminding you that breaching 113.97 will push the price to test 118.00 level initially.
Expected trading range for today is between 112.60 support and 114.30 resistance.
Expected trend for today: Bearish
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