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USDJPY Daily Forecast: October 04

Monday, October 3, 2016 21:10
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USDJPY Forecast
The USDJPY had a bullish momentum earlier today hit 102.39. The bias is bullish in nearest term. As you can see on my H1 chart below, price is now testing the lower line of the (violated) bullish channel located around 102.50 which is a good place to sell with a tight stop loss. Immediate support is seen around 101.80. A clear break below that area could lead price to neutral zone in nearest term testing 101.25 – 100.80 region. Overall I remain bearish.

usdjpyhourly

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  • Trading on USD/JPY can be seriously beneficial, but we just need to make sure we use it in proper way and trade only when we have certainty. This is why I operate with swap free account through OctaFX to have me comfortable with not worrying about paying overnight charges while there is also Islamic Account available that we could operate, so it just makes things better and allows me to work really smoothly in all situation and always help bring in solid profits.

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