The USD/JPY pair faced negative pressure yesterday and testrf the first pivotal support at 142.00, representing the breached neckline of the Double Bottom pattern as shown in the attached chart, with prices rebounding as the positive impact of this pattern remains viable, in anticipation of resuming the upward wave that targets 144.00.
The Stochastic indicator sent out clear positive signals that support the expected upward trend, which will remain in place, as long as the pair holds above 142.00, and most importantly above 141.40.
Expected trading range for today is between the 142.00 support and the 143.60 resistance.
Expected trend for today: Bullish
Origin: Economies
