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USDJPY Daily Forecast: November 28

Sunday, November 27, 2016 20:04
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(Before It's News)

USDJPY Forecast
The USDJPY continued its bullish momentum last week, topped at 113.89 but closed a little bit lower at 112.94 and hit 111.55 earlier today. The bias is bearish in nearest term. As you can see on my daily chart below, after a strong bullish run, we have an indecisive candle followed by a potential bearish candle (today’s candle, so we need to wait until market close today to see whether it’s a bearish candle or not). A clear break and daily close below 111.50 would expose 110.00 region. Immediate resistance is seen around 112.00 followed by 112.50.

usdjpydaily

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