Currency pair analysis for today, October 19th: USDJPY

The recent trading of the dollar against the yen pair is confined to a bullish triangular flag pattern that appears on the chart, and therefore, the price needs to breach 114.35 to obtain a positive stimulus that pushes the trades to resume the bullish trend, which its next target is at 114.70.

Therefore, we believe that opportunities are available to continue the expected bullish trend for the upcoming period, noting that breaking 114.00 will stop the positive scenario and pressure the price to start a bearish corrective wave on the intraday term.

The expected trading range for today is between 113.70 support and 115.00 resistance

The forecast trend for today: bullish