Overview
The USD/JPY pair managed to confirm surpassing of the EMA50 after ending last week above it. Today, the pair began with a clear bullish rally towards the 111.00 barrier that supports the continuation of the bullish trend scenario efficiently for the upcoming period. It is also supported by the positive signal offered now by stochastic. It is expected that the bullish bias will continue towards 113.97 as next main station. Therefore, our bullish overview will remain valid on the intraday and short-term basis. Note that breaking of 109.70 might push the price to decline and visit the most important support in the short-term and medium-term trading at 106.63.
The expected trading range for today is between the 110.20 support and the 112.00 resistance.
