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USDJPY Forecast: The bull is not give up yet, but still struggles around resistance

Thursday, April 25, 2019 1:42

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USDJPY Forecast: The bull is not give up yet, but still struggles around resistance
The USDJPY regained its bullish momentum yesterday after more than a week of slow and indecisive market, topped at 112.39 but still unable to convincingly stay above 112.00 resistance area. The bias is neutral in nearest term. As long as 112.00 resistance holds, I still prefer a bearish scenario with nearest target sits around 111.00, especially if price closes back below 112.00 today. Conversely, on the upside, a consistent movement above 112.00 could easily target 113.15 region (July2018 high) even 114.50 area (October 2018 high).

Source: https://fxinstructor.com/blog/usdjpy-forecast-the-bull-is-not-give-up-yet-but-still-struggles-around-resistance

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