USDJPY Forecast
The USDJPY failed to continue its bearish momentum yesterday and now moving back inside the descending triangle formation as you can see on my daily chart below. This fact invalidates the descending triangle scenario. The bias is bullish in nearest term testing 106.05 region. Immediate support is seen around 105.37 (current low). A clear break below that area could lead price to neutral zone in nearest term testing 104.62 region. Overall I remain neutral.

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One thought on “USDJPY Daily Forecast: March 27”

  1. Ayman A says:

    I agree William, I think usd/jpy is due for a pull back soon its just when and how(I know its very close), I would expect some sideways action than a pull back or a double bottom than the pull back. At the most, I could see price make a weak lower low to the weekly S1 and that’s it.We have not been able to get past monthly S1 all month. I like that little triangle trick, never knew that. Thanks for the informative post.

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