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| USD/JPY Daily Forecast
Fri, August 08 2014 | Dear Fellow Trader,
Setyo Wibowo here with the latest daily forex update from the FX Instructor Forex Blog.
If you have any questions about today's update - please reply to this email and I will be happy to help. Enjoy!
| The USDJPY attempted to push higher yesterday topped at 102.45 but whipsawed to the downside and hit 101.59 earlier today. The bias is bearish in nearest term testing 100.80 support area. Immediate resistance is seen around 102.30. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. My overall technical outlook remains neutral as price is still moving sideways and I think the best strategy now is to sell around 103.00 - 103.75 or buy around 100.80 with a tight stop loss. Please click here to see the chart. |
| | I hope you enjoyed today's forex update! If you have any questions or suggestions, reply to this email - or visit me at the FX Instructor Blog.
Happy Trading! | | | | | | | |