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USDJPY Daily Forecast: March 21

Monday, March 20, 2017 19:33
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(Before It's News)

USDJPY Forecast
The USDJPY was indecisive yesterday but overall still able to maintain its bearish bias and hit 112.25 earlier today in Asian session. The bias remains bearish in nearest term testing 111.50/30 region which remains a good place to buy with a tight stop loss. Immediate resistance is seen around 113.00. A clear break above that area could lead price to neutral zone in nearest term testing 113.50. On the downside, a clear break and daily close below 111.50/30 would reactivate my bearish mode as a part of the double top bearish scenario (118.60) as you can see on my H4 chart below.

usdjpy4h



Source: http://fxinstructor.com/blog/usdjpy-daily-forecast-march-21-5

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