| Online: | |
| Visits: | |
| Stories: |
| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
USDJPY Daily Forecast: October 29
Thursday, October 29, 2015 0:27
% of readers think this story is Fact. Add your two cents.
USDJPY Forecast
The USDJPY failed to continue its bearish momentum yesterday topped at 121.24 but traded lower earlier today hit 120.57. The bias is bullish in nearest term testing 121.30 key resistance which remains a good place to sell with a tight stop loss. Immediate support is seen around 120.50. A clear break below that area could lead price to neutral zone in nearest term testing 120.00 area. My major technical outlook remains neutral as price is still trapped inside the range area of 121.30 – 118.50 as you can see on my H4 chart below.
Source: http://www.fxinstructor.com/blog/usdjpy-daily-forecast-october-29-6
I think it can be fair to say that at the moment, it is really impossible to say anything for certain with the things we known. I would rather wait for a clear trend instead of going too early in any direction. I usually don’t fear long term trades given I am working with OctaFX broker where I am already getting massive benefits in shape of swap free account, as that helps me work easily without having to pay any extra fees or charges for overnight trades.