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USDJPY Daily Forecast: May 16

USDJPY Daily Forecast: May 16
Wednesday, May 16th, 2018 @ 1:44 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 significant bullish momentum yesterday, broke above the range area as you can see on my daily chart below. My bullish mode is now reactivated. The bias is bullish in nearest term testing 111.00 – 111.50 region. Immediate support is seen around 110.00 area. A clear break back below that area could lead price to neutral zone in nearest term testing 109.50 area but overall I still prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy.

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