- October 19, 2017
- Posted by: range
- Category: FOREX
<img class="wp-image-2043 aligncenter" src="http://rangeforex.com/wp-content/uploads/2017/10/Screen-Shot-2017-10-19-at-5.03.55-PM.png" alt="" width="804" height="570" />In result of the previous trading session, the Dollar appreciated against the Yen by 0.82%. In result of such advance the pair has practically returned to the 113.20 level, which represented significant resistance barrier three weeks ago.
As now this area is additionally protected by the weekly R2, it seems that the currency rate is going to make a rebound. This assumption is also supported by the fact that in result of the sharp surge the pair formed a short-term rising wedge. Accordingly, it is expected to make a breakout in the southern direction.
Finally, there is a need to take into account that on daily chart the pair is about to reach the upper trend-line of a long-term, dominant pattern, which additionally points out on an upcoming rebound.
<img class="wp-image-2042 aligncenter" src="http://rangeforex.com/wp-content/uploads/2017/10/Screen-Shot-2017-10-19-at-5.04.06-PM.png" alt="" width="657" height="395" />