FX.co ★ Daily analysis of USD/JPY for February 22, 2017

Overview

The USD/JPY pair shows a bearish rebound after approaching 113.97 levels yesterday. Stochastic shows negative signals now, which supports the continuation of the bearish bias in the upcoming sessions, and the target is testing the critical support at 112.10. In general, we are still waiting for a breach of one of these levels to detect the next trend clearly, so we remain neutral until now. To recognize the details of the expected targets from the breach, please review our previous report. The expected trading range for today is between the 112.10 support and the 114.70 resistance.