USDJPY Daily Forecast: April 22 2016

USDJPY Daily Forecast: April 22 2016

22 April 2016, 06:00
Roberto Jacobs
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USDJPY Daily Forecast: April 22 2016

USDJPY Forecast

The USDJPY didn’t make significant movement yesterday. The bias is neutral in nearest term. The major bearish scenario remains valid but price is in a bullish correction/consolidation phase since found support at 107.60 as you can see on my daily chart below. Immediate support is seen around 108.75. A clear break and daily/weekly close below that area could trigger further bearish pressure retesting 107.60 next week. On the upside, 110.96 region remains a key resistance and bullish correction target.

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