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USDJPY Daily Forecast: January 13

Thursday, January 12, 2017 20:17
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USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 113.75 but closed higher at 114.70. Price is still in a bearish phase after formed a double top formation at 118.60, but still unable to make a clear and consistent movement below 114.60 support. The bias is neutral in nearest term probably with a little bullish bias testing 116.00. On the downside, a clear break and daily/weekly close below 114.60 would expose 113.00 – 112.50 area next week. On the upside, a clear break and daily/weekly close back above 116.00 would give the major bullish scenario another chance retesting 118.60 area.

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