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USDJPY Daily Forecast: March 02
Wednesday, March 1, 2017 19:16
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USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 114.04 and hit 114.15 earlier today in Asian session. The bias remains bullish in nearest term testing 115.00 – 115.60 area which is a good place to sell with a tight stop loss. Immediate support is seen around 113.45. A clear break below that area could lead price to neutral zone in nearest term testing 113.00 or lower. As long as stay below 115.60 I still prefer a bearish scenario.
Source: http://fxinstructor.com/blog/usdjpy-daily-forecast-march-02-5
As we saw the pair pick up lately with the rate hike possibility increasing, but I believe it might just go opposite. I believe it could be very good chance for us to go for sell, but obviously this is something that we need to do very wisely and try not to guess anything. I work with OctaFX broker and with them, I find it so much easier and safer with their daily market updates plus there are several other benefits like huge cash back, zero balance protection and even swap free account.