Overview

The USDJPY pair bounced bullishly after approaching from the 110.00 barrier yesterday, rallying upwards and moving above 111.00 levels now. It supports continuation of the main bullish trend scenario in the upcoming period, and the price is likely to reach the 113.97 level that represents the next main target of the current bullish wave. Therefore, the bullish bias will still dominate on the intraday and short-term basis supported by the EMA50, unless breaking and holding below 109.15 levels. The expected trading range for today is between the 110.25 support and the 112.30 resistance.