USDJPY Forecast
The USDJPY continued its bullish momentum yesterday topped at 105.93 and hit 106.31 earlier today in Asian session. The bias is bullish in nearest term testing 106.75 which is a good place to sell with a tight stop loss. Immediate support is seen around 105.75 followed by 105.00. On the upside, a clear break and daily/weekly close above 106.75 would expose 108.00 – 108.50 next week. My long term technical outlook remains bearish but need a clear break at least below 103.55 to keep the bearish scenario remains strong.

usdjpyhourly

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.