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USDJPY Daily Forecast: October 12

Tuesday, October 11, 2016 19:25
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USDJPY Forecast
The USDJPY was indecisive yesterday. Price attempted to push higher, topped at 104.07 but closed lower at 103.49. Once again, 104.00/20 region was proved to be a good place to sell. As you can see on my H1 chart below, we have a potential double top bearish scenario which would be confirmed by a clear break below 102.75 with nearest target seen around 101.80. The bias is bearish in nearest term and 104.00/20 region remains a key resistance and good place to sell with a tight stop loss. My major technical outlook remains bearish.

usdjpyhourly

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