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USDJPY Daily Forecast: March 08

Tuesday, March 7, 2017 19:53
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USDJPY Forecast
The USDJPY had another indecisive movement yesterday. The bias remains neutral in nearest term. Immediate support is seen around 113.50. A clear break below that area could trigger further bearish pressure testing 113.00 or lower. Immediate resistance is seen around 114.15 followed by 114.75 but key resistance remains at 115.60 which remains a good place to sell. Price has been moving sideways in a range area as you can see on my H4 chart below suggests a consolidation phase but as long as stay below 115.60 I still prefer a bearish scenario.



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