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USDJPY Daily Forecast: October 21

Thursday, October 20, 2016 15:25
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USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 104.10. As you can see on my H1 chart below price revisited the violated trend line support (now resistance). The bias is bullish in nearest term but 104.20 region remains a good place to sell. Immediate support is seen around 103.65. A clear break below that area could lead price to neutral zone in nearest term testing 103.15/00 region. Overall I remain bearish but we need a clear break and consistent movement at least below 103.50 to end the current bullish correction phase.

usdjpyhourly

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  • It has been incredibly long since we have seen UJ in such move, so I guess it’s time to just enjoy and not to worry about anything else. I love trading on this pair especially thanks to OctaFX broker where they have everything simple and straight forward with having swap free account option, it’s ever easy with no worries about overnight charges plus there is also smooth trading platform as well, it’s all picture perfect and helps in working nicely.

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