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USDJPY Daily Forecast: October 31

Sunday, October 30, 2016 22:24
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USDJPY Forecast
The USDJPY had a bullish momentum last week, topped at 105.53 but closed lower at 104.78. As you can see on my H1 chart below price move lower after slipped above the upper line of the bullish channel (resistance) suggests a potential bearish pullback but as long as stay inside the bullish channel price is still in a bullish phase. The bias is neutral in nearest term probably with a little bearish bias testing 104.00 area but key support is seen around 103.50. Immediate resistance is seen around 105.00. A clear break above that area could trigger further bullish pressure testing 105.50 or higher.



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