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USDJPY Daily Forecast: February 10
Thursday, February 9, 2017 19:55
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USDJPY Forecast
The USDJPY had a strong bullish momentum yesterday topped at 113.34 and hit 113.80 earlier today in Asian session. The bias is bullish in nearest term but overall price is still in a bearish phase. As you can see on my H4 chart below price is at the H4 EMA 200 which is a good place to sell with a tight stop loss above 114.00. Immediate support is seen around 113.25. A clear break below that area could lead price to neutral zone in nearest term testing 112.70. On the upside, a clear break and daily/weekly close above 114.00 would expose 115.60 key resistance next week.
Source: http://fxinstructor.com/blog/usdjpy-daily-forecast-february-10-7
The way situation is I don’t think we can really say where this pair is heading next, so we just need to be careful. I always keep myself on safer side which is easier to work out due to OctaFX and with their outstanding setting in terms of swap free account, low spreads from 0.1 pips to many such benefits, I just love it in every way and is one reason why I feel entirely at comfort and ease with doing things which keeps me happy.