USDJPY Forecast
The USDJPY continued its bearish momentum yesterday and hit 118.35 earlier today. The bias remains bearish in nearest term testing 118.00. Immediate resistance is seen around 119.15. A clear break above that area could lead price to neutral zone in nearest term testing 119.50 – 120.05 area which remains a good place to sell with a tight stop loss. Fundamental focus will be on the US ADP Non-Farm Employment Change, Trade Balance and the FOMC meeting minutes.
