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USDJPY Daily Forecast: December 07

USDJPY Daily Forecast: December 07
Thursday, December 7th, 2017 @ 1:15 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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USDJPY Forecast
The USDJPY had a bearish momentum yesterday bottomed at 111.99 but closed higher at 112.28 and hit 112.48 earlier today in Asian session. The bias is neutral in nearest term but as long as stay below 113.20 I still prefer a bearish scenario at this phase as a part of the bearish pin bar scenario on daily chart (November 06). Immediate resistance is seen around 112.63 (yesterday’s high). A clear break above that area could trigger further bullish pressure testing 113.00/20 region which remains a good place to sell with a tight stop loss. Immediate support is seen around 112.00. A clear break below that area would expose 111.65 region. Overall I remain neutral.


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