Visitors Now:
Total Visits:
Total Stories:
Profile image
By FX Instructor (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

USDJPY Daily Forecast: October 17

Sunday, October 16, 2016 20:24
% of readers think this story is Fact. Add your two cents.

(Before It's News)

USDJPY Forecast
The USDJPY continued its bullish momentum last week but still struggling above 104.20 key resistance area. The bias is neutral in nearest term. Immediate resistance is seen around 104.65. A clear break above that area would expose 105.00/50 region. Immediate support is seen around 103.50 and the trend line support as you can see on my H1 chart below. A clear break below that area could trigger further bearish pressure testing 102.75 area. Overall I remain bearish but only a clear break at least back below 103.50 would potentially end the current bullish correction phase.

usdjpyhourly

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Total 1 comment
  • I don’t think we are going to see this continue during the week and there is every chance that we might see the bears coming in and that’s why we need to be very careful with how we go and make sure we have good plans set out and must execute them nicely in order to gain something. I am incredibly lucky to be with OctaFX broker where I get solid push and that’s with the massive rebate available here plus there is also swap free option available making it so special.

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.