USDJPY Daily Forecast: September 03

USDJPY Forecast

The USDJPY continued its bearish momentum on Friday, bottomed at 78.18. The bias remains bearish in nearest term still testing 77.65 strong support area. Immediate resistance is seen around 78.50. A clear break above that area could lead price to neutral zone in nearest term but only a clear break back above 79.00/20 could interrupt the current bearish intraday bias and reactivate my bullish mode testing 80.00/50 area. I still prefer a bullish scenario at this phase due to a good risk – reward ratio after hit the historical/record low at 75.56.

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