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USDJPY Daily Forecast: November 14

Sunday, November 13, 2016 19:24
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USDJPY Forecast
The USDJPY attempted to push lower last week bottomed at 101.19 but whipsawed to the upside, closed at 106.67 and hit 107.40 earlier today. The bias is bullish in nearest term testing 107.50 which is a good place to sell with a tight stop loss as a a clear break above 107.50 would expose 109.00 region. Immediate support is seen around 106.85. A clear break below that area could lead price to neutral zone in nearest term testing 106.25/00 area. On the upside, a clear break and daily close above 107.50 would change my major technical outlook to a neutral bias with a bullish medium and short term condition.

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