Overview
The EMA50 forms a good intraday support base that caps the downside of the USD/JPY pair, which continues fluctuating near the minor bearish channel's resistance shown on the chart. Stochastic shows positive signals now, which supports the chances of breaching the mentioned resistance at 117.65 followed by activating the positive effect of the bullish flag pattern that we expect to help the price breach 118.65 levels to head towards our next main target at 120.00. Therefore, our bullish overview sis till valid and active conditioned by the price stability above 116.55 levels. A break of this level will push the price to head towards 113.97 before any new positive attempt. The expected trading range for today is between the 116.55 support and the 118.65 resistance.
