USDJPY tests minor resistance – Analysis - 17-10-2018

The USDJPY pair traded positively yesterday after leaning on the main bullish channel’s support line, to start testing 112.46 level, waiting to breach this level to ease the mission of achieving our positive targets at 112.95 followed by 113.56.

In general, the bullish trend scenario still valid on the intraday and short term basis conditioned by the price stability above 111.75, as breaking this level will cause a turn to the short term trend to decline.

Expected trading range for today is between 111.75 support and 113.20 resistance

Expected trend for today: Bullish