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USDJPY Daily Forecast: May 08

USDJPY Forecast
The Usdjpy had a bullish momentum last week topped at 113.04. The bias is bullish in nearest term. Price is still in a bullish phase but as you can see on my H4 chart below the pair is struggling around a trend line resistance which is a good place to sell with a tight stop loss above 113.05 as a clear break and daily close above that area would expose 114.00 or higher. Immediate support is seen around 112.50. A clear break below that area could lead price to neutral zone in nearest term testing 112.00 area or lower.

usdjpy4h



This post first appeared on FX Instructor Forex Blog - For Traders, By Traders, please read the originial post: here

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USDJPY Daily Forecast: May 08

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