USDJPY under the negative pressure – Analysis - 09-10-2018

The USDJPY pair broke 113.56 level yesterday and rallied towards the first correctional target at 112.96 direct, settling between the mentioned levels now, noticing that there is a contradiction between stochastic positivity and the EMA50 negativity, which makes us stay aside temporarily until breaching one of the mentioned levels followed by detecting the next targets clearly.

Note that breaking 112.96 support will extend the correctional bearish wave to reach 112.46 followed by 111.97 levels, while breaching the resistance will stop the negative pressure and push the price back to the main bullish track that its next target located at 114.55.

Expected trading range for today is between 112.45 support and 114.00 resistance

Expected trend for today: Depends on the above mentioned levels