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USDJPY Daily Forecast: October 07

Thursday, October 6, 2016 21:46
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USDJPY Forecast
The USDJPY continued its bullish momentum yesterday topped at 104.16 but traded lower earlier today hit 103.53. The bias is bullish in nearest term but 104.00/20 area remains a good place to sell with a tight stop loss. Immediate support is seen around 103.50. A clear break below that area could lead price to neutral zone in nearest term testing 103.00 – 102.75. Overall I remain bearish.


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  • USD/JPY has been pulling the bar quite high this week, but we make see drop next week, therefore, it’s wise if we are very careful with how we go about dealing with everything since only then we will have better opportunity as far been able to make bigger profit is concern. This is quite easy thanks to OctaFX broker and their powerful structure with steady spreads, zero balance protection while they also allow us to operate on Islamic Account with as low as 5 dollars, so all works perfectly for me.

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