USDJPY analysis 12.08.2020

The dollar against the yen achieved a clear breach of 106.44 and closed the daily candlestick above it, which stops the negative scenario suggested in our recent reports and leads the price to turn to the upside, as we expect to target 107.68 as a next positive station.

Consequently, the bullish trend will be expected during the upcoming period with the support of the MA 50, noting that breaching 106.44 and holding below it will re-activate the negative scenario again.

The expected trading range for today is between 106.00 support and 107.50 resistance.

The expected general trend for today: Bullish.