USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 110.86 but whipsawed to the upside and closed higher at 111.78 and hit 111.99 earlier today in Asian session. The bias is bullish in nearest term testing the trend line resistance and 112.00 area as you can see on my H4 chart below, which remains a good place to sell with a tight stop loss targeting 108.00 region. Immediate support is seen around 111.50. A clear break below that area could lead price to neutral zone in nearest term testing 111.00 or lower. On the upside, a clear break and daily close above 112.00 and the trend line resistance would activate my wait and see mode as direction would become unclear.


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