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21.02.201714:44 Forex Analysis & Reviews: Daily analysis of USD/JPY for February 21, 2017

Long-term review

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Overview

The USD/JPY pair shows positive trading. Early this day the pair approached the critical resistance at 113.97. It represents one of the next trend keys besides the support that has declined to 112.30. Let us remind you that the price needs to surpass one of these levels to confirm its next targets clearly. Therefore, our neutral attitude will remain valid until now, reminding you that breaching 113.97 will lead the price to recover and target 118.00 level mainly. Breaking of the level of 112.30 will return the price to the previously breached bearish channel to head towards 111.60 then 110.00 as the next main station. The expected trading range for today is between 112.30 support and 114.70 resistance.

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