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USDJPY Daily Forecast: July 29

USDJPY Forecast
The Usdjpy had a bearish momentum earlier today in Asian session, slipped below 103.50 support area as you can see on my H1 chart below but traded higher around 104.00 at the time I wrote this comment. The bias is bearish in nearest term retesting 103.50. A clear break and daily/weekly close below that area could trigger further bearish pressure next week testing 101.50. Immediate resistance is seen around 104.60. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear but overall I remain bearish.

usdjpyhourly



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: July 29

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