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USDJPY Daily Forecast: January 12

USDJPY Daily Forecast: January 12
Friday, January 12th, 2018 @ 8:17 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 yesterday. Price attempted to push higher topped at 111.87 but closed lower at 111.23. The bias remains bearish in nearest term testing 110.85/65 region as a part of a bearish phase after bounced-off the violated trend line support as you can see on my H1 chart below. Immediate resistance is seen around 111.85. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I remain neutral.

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