Daily analysis of USD/JPY for December 15, 2017

Posted On 15 Dec 2017

Overview

The USD/JPY pair traded lower yesterday and approached our initial target at 111.90. The pair came under negative pressure formed by the EMA50. We still suggest the bearish trend for today. Please note that breaking the mentioned level will extend the bearish wave to reach 111.00 directly. Holding below 113.00 is the main condition to continue the expected decline, while breaching it will stop the current negative pressure and lead the price to regain its main bullish track again. The expected trading range for today is between 111.30 support and 113.00 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Daily analysis of USD/JPY for December 15, 2017

About the Author

InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support