USDJPY Analysis 26.11.2018

The US dollar fluctuated in a tight range slipping into the Asian session to see its sixth session drop in 10 sessions since its 4th high since October 4, while still resuming its weekly gains for the third week in four weeks against the Japanese yen amid tight economic data By the Japanese economy developments due to the World Thanksgiving holiday.

Today, at the opening of the Asian session, the greenback was up against the yen, with opening at 112.87, with a high of 113.26.

Technical analysis:

USDJPY has returned to the upside and traded within the ascending channel that was previously traded.

The pair is trading between the 50-7 moving averages and the 20 moving average from the top.

Stochastic is moving upwards in the bullish cross, reinforcing the bullish trend.

The trading range for today is between the support at 112.87 and the resistance at 114.00.

Support and resistance:

Support: 112.87-112.13-111.44;

Resistance: 113.5-114.03.