USDJPY Forecast
The USDJPY was indecisive yesterday. The bias is neutral in nearest term. As you can see on my H4 chart below, the trend line resistance and H4 EMA 200 are still being respected, keeps the false breakout bearish scenario remains valid targeting 108.00 region. Immediate support is seen around 111.00. A clear break below that area could trigger further bearish pressure testing 110.50 area.  On the upside, a clear break back above the trend line resistance and 112.00 area would activate my wait and see mode as direction would become unclear.


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.