Overview
The USD/JPY pair settles near 112.00 level after the bearish rebound that appeared from 113.97 area. As long as the price is below this level, the correctional bearish track will remain valid and active for the upcoming period. Therefore, we believe the way is open to head towards our targets that begin at 110.00 and extend to 106.63, reminding you that breaching 113.97 will push the price to retest 116.14 level before any new attempt to decline.
The expected trading range for today is between 111.00 support and 113.00 resistance.
The material has been provided by InstaForex Company - www.instaforex.com