Overview
The USD/JPY pair continues the rise to approach our expected target at 111.65, which represents the previously broken neckline of the double top pattern. Therefore, we will be waiting for a bearish rebound after testing the mentioned level to resume the overall bearish trend on the short-term basis. Thus, the rise remains preferred temporarily. Please be aware that breaching 111.65 will enable the price to extend its rise to reach 113.65 as the next main target. The expected trading range for today is between 110.50 support and 112.00 resistance.
