USDJPY Daily Forecast: December 19

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By swibowo | December 19, 2013 7:49 PM EST

Fx Instructor

USDJPY Forecast

The USDJPY had a strong bullish momentum yestedday topped at 104.35.The bias is bullish in nearest temr testing 105.00. As you can see on my monthly chart below, price is now testing the monthly EMA 200, a major resistance. That area could be a strong resistance at this phase, but could create further bullish scenario if clearly broken to the upside. Immediate support is seen around 103.50. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 102.00 – 101.60 my overall technical outlook remains bullish.

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