USDJPY Daily Forecast: August 16
USDJPY Forecast
The USDJPY failed to continue its bullish momentum yesterday bottomed at 110.43. The bias is neutral in nearest term. Immediate support is seen around 110.45 (current low). A clear break below that area could trigger further bearish pressure retesting the daily EMA 200 and 110.00 support area which need to be clearly broken to the downside to resume the bearish phase after failed to break above 113.00 area. Immediate resistance is seen around 111.00. A clear break above that area could trigger further bullish pressure testing 111.55 area.
Source: https://fxinstructor.com/blog/usdjpy-daily-forecast-august-16-7
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