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USDJPY Daily Forecast: November 02

Tuesday, November 1, 2016 17:49
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USDJPY Forecast
The USDJPY had a bearish momentum yesterday bottomed at 103.79. The bias is bearish in nearest term testing the lower line of the bullish channel and 103.50 key support. A clear break and daily close below that area would end the bullish correction phase and reactivate my bearish mode with nearest target seen around 102.50. Immediate resistance is seen around 104.50. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish phase alive and kicking testing 105.00 or higher.

usdjpyhourly

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