USDJPY Forecast
The USDJPY was indecisive yesterday, but traded lower earlier today in Asian session hit 109.79 which is below the H1 EMA 200. Overall price is still in a bullish phase since bounced-off 108.10 key support but we need a movement back above the H1 EMA 200 located around 110.20 to keep the bullish phase alive and kicking targeting 112.00 resistance area located around the upper line of the major bearish channel as you can see on my daily chart below, which is a good place to sell. The bias is bearish in nearest term testing 109.50 region. A clear break and daily close below that area would expose 108.95 but key resistance remains at 108.10.

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.