USDJPY Forecast
The USDJPY attempted to push higher last week, topped at 114.55 but closed lower at 113.70, printed a bearish pin bar on weekly chart. Overall I remain bullish, but the appearance of the bearish pin bar at key resistance could be a serious threat to the bullish run. The bias is neutral in nearest term. Immediate support is seen around 113.50. A clear break below that area could trigger further bearish pressure testing 113.00 area or lower. On the upside, 114.70 remains a key resistance which need to be clearly broken to the upside to invalidate the bearish pin bar scenario and resume the bullish phase targeting 115.50 or higher.


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.