Daily analysis of USD/JPY for September 25, 2019




Overview

The USD/JPY pair bounced bullishly after the formation of the 111.75 solid support against the price recent negative attempts and stack between the mentioned support and the 112.80 resistance, which represent 61.8% and 76.4% Fibonacci levels of correction, respectively. Therefore, we expect to side of trading between these levels until the price manages to breach one of them. Note that breaking the mentioned support will push the price to resume the main bearish trend, with main targets begin at 110.06 and to extend it to 109.00; while the breach of the resistance represents the key to extend the pair gains to reach the previously recorded top 114.49 that the next main station. The expected trading range for today is between 111.50 support and 113.20 resistance.



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