USDJPY rises after consolidation – Technical Analysis – 20-10-2015

The USDJPY pair rose recently after leaning on the key support 118.65, this level represents the lower line of the sideways range, and holding above it allowed the price to get positive momentum that assisted it to rise, with the continuation of the negative pressure of the moving average 50, beside positive signals from the relative strength indexes.

Therefore, we expect rising in the coming periods, targeting 120.00 resistance initially, and breaching this level will push the price to target 121.25 key resistance that forms the ceiling of the mentioned sideways range.