USDJPY Forecast
The USDJPY had another indecisive movement yesterday. As you can see on my H1 chart below price has been moving sideways between 118.50 – 121.30 since a month ago and we need a clear break from that range area to see clearer direction. The bias remains neutral in nearest term probably with a little bearish bias testing 119.05 but key support remains around 118.50. Immediate resistance is seen around 120.00. A clear break above that area could trigger further bullish pressure testing 120.50 but key resistance remains around 121.30. The best plan for me remains to sell around 121.30 or buy around 118.50 with a tight stop loss.
