USDJPY Forecast
The USDJPY had a bearish momentum last week bottomed at 110.23 but closed higher at 111.25 and hit 111.60 earlier today in Asian session. The bias is bullish in nearest term testing 112.00 and the trend line resistance as you can see on my H4 chart below, which is a good place to sell targeting 108.13 area with a tight stop loss above the trend line resistance. Immediate support is seen around 111.00. A clear break below that area could lead price to neutral zone in nearest term testing 110.50 or lower.  On the upside, a clear break back above the trend line resistance would activate my wait and see mode as direction would become unclear.


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