USDJPY Daily Forecast: April 24
USDJPY Forecast
The USDJPY gaps higher earlier today opened at 110.46 but traded lower around 110.00 at the time I wrote this comment after French election result. As you can see on my H1 chart below, price respecting the trend line resistance which keeps the major bearish trend remains valid. Immediate support is seen around 109.40. A clear break and daily close back below that area would expose 108.70 region. On the upside, a clear break and daily close above the trend line resistance and 110.50 could trigger further bullish pressure testing 111.00 area or higher.
Source: http://fxinstructor.com/blog/usdjpy-daily-forecast-april-24-5
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