USDJPY Daily Forecast: July 11

USDJPY Forecast

The USDJPY had a moderate bearish momentum yesterday but overall still trapped between 80.00 – 79.00. There are no changes in my technical outlook. However, as you can see on my daily chart below price slipped below a trend line support suggests potential bearish pressure. A clear break and daily close below 79.00 could trigger further bearish pressure testing 78.50 0r lower. On the upside, a clear break and daily close above 80.00 could trigger further bullish scenario testing 81.00 resistance area or higher. From a long term perspective I still prefer a bullish reversal scenario after hit the record low.

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