USDJPY Daily Forecast: November 08

USDJPY Forecast

The USDJPY had a bearish momentum yesterday bottomed at 79.75. The bias is bearish in nearest term testing 79.50/00 as a part of the bearish (short term) phase after the false breakout above 80.50. However I still prefer a bullish scenario. Immediate resistance is seen around 80.00. A clear break above that area could lead price to neutral zone in nearest term retesting 80.50 key resistance area which need to be clearly broken to the upside to continue the bullish scenario.