USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 112.33 and hit 112.41 earlier today in Asian session after failed to test the trend line support as you can see on my daily chart below. The bias is bullish in nearest term testing 113.00 region. Immediate support is seen around 112.00. A clear break below that area could lead price to neutral zone in nearest term testing 111.60 – 111.00 key support area which remains a good place to buy with a tight stop loss as a consistent movement below the trend line support and 111.00 not only would invalidate the major bullish outlook but could be the earliest stage of a bearish reversal scenario.

usdjpydaily

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.