Overview
The USD/JPY pair attempted to breach the bearish channel's resistance but it managed to settle below it, which keeps the bearish trend scenario valid until now. The bearish wave can be initiated that targets this channel's support located at 111.90. Therefore, we expect the bearish trend in the upcoming sessions supported by stochastic negativity. Breaching the 115.00 level and holding above it will push the price towards 118.10 level as the first main target. The expected trading range for today is between 113.00 support and 115.15 resistance.
The material has been provided by InstaForex Company - www.instaforex.com
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