USDJPY Forecast
The USDJPY had a strong bearish momentum last week after printed a bearish pin bar on weekly chart two weeks ago. The bias is bearish in nearest term testing the trend line support located around 111.00 region as you can see on my daily chart below. Immediate resistance is seen around 112.50. A clear break above that area could lead price to neutral zone in nearest term testing 113.00 region. On the downside, a clear break and daily close below 111.00 not only would invalidate the major bullish outlook but could be the earliest stage of a bearish reversal scenario.


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.