USDJPY Daily Forecast: October 23
USDJPY Forecast
The USDJPY had a moderate bullish momentum yesterday topped at 112.88 but traded a little bit lower hit 112.51 earlier today in Asian session. The bias is neutral in nearest term but as long as stay above the trend line support the major bullish trend should remain valid. Immediate support is seen around 112.35. A clear break below that area could trigger further bearish pressure testing 112.00 – 111.60 support area which is a good place to buy with a tight stop loss below the trend line support as a clear break below the trend line support not only would invalidate the major bullish outlook but could be the earliest stage of a bearish reversal scenario.
Source: https://fxinstructor.com/blog/usdjpy-daily-forecast-october-23-7
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