USDJPY Daily Forecast: January 19 2016

USDJPY Forecast

The USDJPY was corrected higher yesterday and hit 117.66 earlier today. The bias is bullish in nearest term testing 118.00 – 118.50 region which remains a good place to sell with a tight stop loss. Immediate support is seen around 117.25. A clear break below that area could lead price to neutral zone in nearest term testing 116.70 – 116.00 region. Overall I remain bearish.