USDJPY Daily Forecast: April 29 2016

USDJPY Daily Forecast: April 29 2016

29 April 2016, 05:52
Roberto Jacobs
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USDJPY Daily Forecast: April 29 2016

USDJPY Forecast

The USDJPY had a strong bearish momentum yesterday after BOJ decided to hold the monetary policy and continue asset purchases. Technically, this fact interrupts the bullish correction phase. The bias is bearish in nearest term retesting 107.60 key support. A clear break and daily/weekly close below 107.60 could trigger further bearish scenario next week targeting 105.00 region. Immediate resistance is seen around 109.00. A clear break above that area could lead price to neutral zone in nearest term testing 110.00 region.

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