USDJPY Daily Forecast: September 07

USDJPY Forecast

The USDJPY had a bullish momentum yesterday, topped at 79.01. The bias is neutral in nearest term, probably with a little bullish bias testing 79.20 resistance area. A clear break and daily/weekly close above that area will activate my bullish mode testing 80.00/50 region. Immediate support is seen around 78.50. A clear break back below that area would keep the bearish phase remains intact testing 77.65. 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. Fundamental focus today will be on the US NFP.

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