USDJPY Daily Forecast: November 02

(Before It's News)

USDJPY Forecast
The USDJPY failed to continue its bullish momentum last week after another failure to break above 121.30 – 118.50 range area. From another technical point of view as you can see on my H4 chart below, we have a double top formation around 121.48 suggests a potential bearish intraday scenario. The bias is bearish in nearest term testing 120.00 – 119.50 area. Immediate resistance is seen around 120.80. A clear break above that area could lead price to neutral zone in nearest term testing 121.30/48 key resistance which remains a good place to sell with a tight stop loss.

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