USDJPY Daily Forecast: April 04 2016
The USDJPY had a bearish momentum last week bottomed at 111.58 and hit 111.31 earlier today. The bias is bearish in nearest term testing 110.96 key support which is a good place to buy with a tight stop loss. Immediate resistance is seen around 112.00. A clear break above that area could lead price to neutral zone in nearest term testing 112.50 area. Overall price is still trapped inside a range area as you can see on my daily chart below and need a clear break from that range area to see clearer direction.