FX.co ★ Daily analysis of USD/JPY for May 25, 2016

Overview

The USD/JPY pair returns to test the EMA50 that forms the key resistance at 110.15, waiting to surpass this level to reinforce the expectations for bullish trend continuation on the short-term basis. Stochastic attempts to gather the positive momentum gradually on the daily time frame. Therefore, we still expect the bullish trend in the upcoming period as long as the price is above the 106.63 level. Our next main target is located at 113.97. The expected trading range for today is between the 109.00 support and the 111.20 resistance.