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USDJPY Daily Forecast: June 11

USDJPY Daily Forecast: June 11
Monday, June 11th, 2018 @ 3:10 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 higher, slipped above 110.00 resistance area but whipsawed to the downside and closed lower at 109.53. The bias is neutral in nearest term. From a daily chart perspective, we have a potential “head and shoulders” formation with neckline located around 108.50 key support. Immediate support is seen around 109.20. A clear break below that area would retest 108.50 key support. Immediate resistance is seen around 109.85. A clear break above that area could retest 110.25 region.

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