empty
 
 
20.01.2017 05:05 PM
Daily analysis of USD/JPY for January 20, 2017

This image is no longer relevant

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.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback