USDJPY Forecast
The USDJPY attempted to push higher yesterday topped at 106.72 but whipsawed to the downside, closed lower at 105.80 and hit 104.62 earlier today in Asian session. As you can see on my H1 chart below, price broke below the H1 EMA 200 suggests a bearish outlook following a false break above 106.75. The bias is bearish in nearest term testing 104.00 – 103.50 area. Immediate resistance is seen around 105.50. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. My major technical outlook remains bearish.


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.