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USDJPY Daily Forecast: November 04
Tuesday, November 3, 2015 21:58
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USDJPY Forecast
The USDJPY continued its bullish momentum yesterday and hit 121.37 earlier today. The bias is bullish in nearest term testing 121.48 which remains a good place to sell with a tight stop loss. Immediate support is seen around 120.90. A clear break below that area could lead price to neutral zone in nearest term testing 120.50 area. On the upside, a clear break and daily close above 121.48 would activate my bullish intraday mode testing 123.00 region. We will have some high impact news/data today: US Trade Balance and ADP NFP. Draghi and Yellen are also scheduled to make statement which could be a market catalyst.
Source: http://www.fxinstructor.com/blog/usdjpy-daily-forecast-november-04-6
