USDJPY Forecast
The USDJPY was indecisive yesterday. Price attempted to push higher topped at 107.28 but whipsawed to the downside and closed lower at 106.45. The bias is neutral in nearest term probably with a little bearish bias testing 105.80/50 support area. Immediate resistance is seen around 107.00/28. A clear break and daily close above that area would eliminate the potential of descending triangle formation testing 108.50 region or higher. On the downside, a clear break and daily close below 105.50 would expose 104.25 area. Overall I remain neutral.

Descending triangle: Forex trading

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply