The U.S. dollar and the Japanese yen are lately oscillating within an upside formation between the range of 103.17 and 104.18 respectively.
The bulls are now exerting pressures in their attempts of taking control over the price, and holding the pair close to the 104.18 level.
The Stochastic oscillator indicates that the pair has greater chances of appreciating to upper levels at the 70 zone.
Alternatively, should the sellers take the lead and force the price below the 103.80 area, the pair could decline as low as 103.17.
- There are no any major releases that could have an impact either on the U.S. dollar or the Japanese yen
· Probable trend (Bullish): 104.18
· Bullish take profit target: 104.81
· Stop loss target: 103.80
· Alternative trend (Bearish): 103.80
· Bearish take profit target: 103.17