empty
 
 
12.07.2017 05:05 PM
Daily analysis of USD/JPY for July 12, 2017

This image is no longer relevant

Overview

The USD/JPY pair retreated downwards clearly after approaching the 114.50 barrier yesterday. The pair aims to push on the bullish channel's support that appears on the chart and is moving below it now. It means the price is about to start bearish correction before the rise that started from 108.80 areas, as the first correctional level is located at 113.15. Therefore, the bearish bias is expected in the upcoming sessions. Breaking 113.15 will confirm the way towards 112.32 as the next main station, while breaching 113.65 followed by 114.00 will stop the current bearish bias and lead the price to resume the bullish trend again. The expected trading range for today is between 112.32 support and 114.20 resistance.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback