Daily analysis of USD/JPY for October 06, 2017

USDJPYH4.png

Overview

The USD/JPY pair closed yesterday's trading exactly at 112.80. The pair opened today with a bullish bias that hints the price is going to rise. The bullish trend is expected for today, supported by the EMA50. The target levels are 113.55 followed by 114.49. We should note that breaking 112.80 followed by 112.50 will stop the expected rise and push the price to decline towards 111.75 directly. The expected trading range for today is between 112.00 support and 113.55 resistance.

The material has been provided by InstaForex Company - www.instaforex.com