Overview
The USD/JPY pair made a strong breakout of 113.97 and closed the daily candlestick above it, which stops the recently suggested negative scenario. This makes the price to recover in the short term. The main targeting is seen at 118.00. Therefore, the bullish trend will continue on the intraday and short-term basis. Please note that breaching 115.60 will form strong momentum that supports a rally towards the above-mentioned target. The bullish scenario remains valid unless 113.97 is broken and the price holds below it. The expected trading range for today is between 113.97 support and 116.00 resistance.
