USDJPY Daily Forecast: November 16
USDJPY Forecast
The USDJPY had a significant bearish momentum yesterday, broke below 113.20 support area. The bias is bearish in nearest term testing 112.00 – 111.65 as a part of the bearish pin bar scenario as you can see on my daily chart below. Immediate resistance is seen around 113.20. A clear break above that area could lead price to neutral zone in nearest term testing 113.50 or higher but key resistance remains at 114.50 which remains a good place to sell with a tight stop loss. Overall I remain neutral.
Source: http://fxinstructor.com/blog/usdjpy-daily-forecast-november-16-7
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