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USDJPY Daily Forecast: February 08

Tuesday, February 7, 2017 15:58
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(Before It's News)

USDJPY Forecast
The USDJPY failed to continue its bearish momentum yesterday topped at 112.57. The bias is neutral in nearest term but overall I still prefer a bearish scenario at this phase with nearest target seen at 111.30. Immediate resistance is seen around 113.00. A clear break and daily close above that area could trigger further bullish pullback testing 114.00 region but any upside pullback should be seen as a good opportunity to sell. Immediate support is seen around 112.00. A clear break below that area could trigger further bearish pressure testing 111.30.

usdjpy4h



Source: http://fxinstructor.com/blog/usdjpy-daily-forecast-february-08-6

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