Currency pair analysis for today, October 20th: USDJPY

The dollar against the yen pair was able to breach the resistance of the bullish triangular flag to push upwards and achieve the expected target at 114.70, and we suggest the continuation of the bullish bias to reach the 115.00 barrier as a next station, noting that breaching this level will extend the bullish wave to reach 115.55 as a next main target.

Stability above 114.10 is important for the continuation of the expected rise, as breaking it will pressure the price to achieve a temporary decline and test 113.25 areas before any new attempt to rise.

The expected trading range for today is between support 113.90 and resistance 115.20

The forecast trend for today: bullish