FX.co ★ Daily analysis of USD/JPY for February 10, 2017

Overview

The USD/JPY pair traded with clear positivity yesterday to test the bearish channel's resistance, accompanied by witnessing big overbought signals through stochastic. To form negative factor that we expect to push the price to rebound bearishly and resume the bearish trend again, which main targets begin at 111.60 and extend to 110.00. In general, we will continue to suggest the bearish trend in the upcoming sessions, unless breaching 113.97 level and holding with a daily close above it. The expected trading range for today is between 112.45 support and 114.30 resistance.