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USDJPY Daily Forecast: June 19

USDJPY Daily Forecast: June 19
Monday, June 19th, 2017 @ 5:11 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 was indecisive last week. Price attempted to push lower, bottomed at 108.82 but whipsawed to the upside and closed higher at 110.85 and hit 111.13 earlier today in Asian session. The bearish scenario is no longer valid as price broke above the trend line resistance as you can see on my H4 chart below, but I am not bullish yet. The bias is bullish in nearest term testing 111.70 – 112.15. Immediate support is seen around 110.65/35. A clear break back below that area could lead price to neutral zone in nearest term but would give the bearish scenario another chance.


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