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USDJPY Daily Forecast: January 31

USDJPY Daily Forecast: January 31
Thursday, January 31st, 2019 @ 4:43 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 108.80 and hit 108.77 earlier today. The bias is bearish in nearest term especially if price able to make a clear break below 108.75 testing 107.60 region. Immediate resistance is seen around 109.30. A clear break above that area could lead price to neutral zone in nearest term testing 110.00 region  which remains a good place to sell with a tight stop loss as a clear break above that area would resume the bullish pin bar scenario testing 111.25 region.

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