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USDJPY Daily Forecast: October 26

Tuesday, October 25, 2016 21:46
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USDJPY Forecast
The USDJPY attempted to push higher yesterday, topped at 104.87 but whipsawed to the downside and closed lower at 104.21. The bias is neutral in nearest term. Immediate support is seen around 104.00. A clear break below that area could trigger further bearish pressure testing 103.50. Immediate resistance is seen around 104.50. A clear break above that area could trigger further bullish pressure testing 105.00 – 105.50 region. My major technical outlook remains bearish but need a clear break at least below 103.50 to potentially end the current bullish correction phase.



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