USDJPY Daily Forecast: May 04 2016

USDJPY Daily Forecast: May 04 2016

4 May 2016, 05:14
Roberto Jacobs
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USDJPY Daily Forecast: May 04 2016

USDJPY Forecast

The USDJPY was indecisive yesterday formed a Doji on daily chart as you can see on my daily chart below and hit 107.44 earlier today. The bias is bullish in nearest term testing 107.60, which is a good place to sell with a tight stop loss. A clear break and daily close above 107.60 could trigger further bullish pullback testing 108.00 or higher. Immediate support is seen around 106.50. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish outlook remain strong retesting 105.50 region.

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