USDJPY Daily Forecast: June 08 2016
The USDJPY was indecisive yesterday. Price slipped above 107.70 resistance area but whipsawed to the downside and hit 106.72 earlier today. The bias is bearish in nearest term testing 106.00 – 105.50 area which remains a good place to buy with a tight stop loss. Immediate resistance remains around 107.70. A clear break and daily close above that area could trigger further bullish pullback testing the H1 EMA 200 located around 108.90 region.