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USDJPY Daily Forecast: October 18

Monday, October 17, 2016 20:38
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USDJPY Forecast
The USDJPY had a bearish momentum yesterday and hit 103.68 earlier today. The bias is bearish in nearest term. Price is now testing the trend line support and H1 EMA 200 as you can see on my H1 chart below, located around 103.60/50. A clear break below that area could trigger further bearish pressure testing 102.75 or lower. On the upside, 104.20 area remains a key resistance and good place to sell with a tight stop loss. Overall I remain bearish.



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