USDJPY Daily Forecast: November 19
USDJPY Forecast
The USDJPY had a bearish momentum last week bottomed at 112.64 after printed a bearish pin bar at 114.00/20 region. We had a bullish pin bar printed on Thursday but was quickly invalidated by a break below 113.09 on Friday. As long as stay above the trend line support and the EMA 200 the major bullish trend remains intact but nearest term bias remains bearish testing 112.00 – 111.30 region which is a good place to buy with a tight stop loss as a clear break below 111.30 would invalidate the major bullish outlook. Immediate resistance is seen around 113.15. A clear break above that area could lead price to neutral zone in nearest term testing 113.50 – 114.20 resistance area.
Source: https://fxinstructor.com/blog/usdjpy-daily-forecast-november-19-7
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