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USDJPY Daily Forecast: November 09

Tuesday, November 8, 2016 18:17
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USDJPY Forecast
The USDJPY continued its bullish momentum yesterday topped at 105.19 but traded lower and hit 104.35 earlier today. The bias is neutral in nearest term. Immediate resistance is seen around 105.00 followed by 105.50 which remains a good place to sell. Immediate support is seen around 104.15 (H1 EMA 200). A clear break below that area could trigger further bearish pressure testing 103.50 or lower. Overall I remain bearish. Fundamental focus will be on the US election result which could create a volatile market.

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