Daily analysis of USD/JPY for November 25, 2016



The USDJPY pair continued rising clearly. It reached the level a few pips away from our main awaited target at 113.97. Due to the strength of this level, the price might face some negative pressure and attempt to return to the correction bearish track, especially given that stochastic shows clearly overbought signals. Therefore, the bearish bias is suggested in the upcoming sessions, and the main target is represented by testing 112.05 levels. It is important to monitor the price behavior when reaching this level, as the break will extend the bearish wave to target 106.63 areas again, while the bearish bias will remain valid unless the price manages to breach and hold above 113.97 levels. The expected trading range for today is between the 112.05 support and the 114.30 resistance.

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

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