Daily analysis of USD/JPY for March 31, 2017

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Overview

The USD/JPY pair breached 111.65 level to head towards testing the bearish channel's resistance, located now at 112.30, accompanied by witnessing big overbought signals through stochastic, which is expected to motivate the price to rebound bearishly to resume the bearish trend in the upcoming sessions, and the targets begin by breaking 111.65 to confirm heading towards 109.00 as the next main station. Note that breaching 112.30 will stop the expected decline and push the price to turn to rise on the intraday and short-term basis, as the positive targets begin by testing 113.97. The expected trading range for today is between 111.00 support and 113.00 resistance. n by testing 113.97. The expected trading range for today is between 111.00 support and 113.00 resistance.

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