USDJPY Daily Forecast: October 19
USDJPY Forecast
The USDJPY had a bearish momentum yesterday bottomed at 111.94 but traded higher earlier today in Asian session hit 112.49. The bias is neutral in nearest term probably with a little bullish bias testing 113.00 region. Immediate support is seen around 112.00. A clear break below that area could trigger further bearish pressure testing 111.60/00 key support area which remains a good place to buy with a tight stop loss as a consistent movement below the trend line support and 111.00 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-19-8
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