USDJPY Daily Forecast: May 05

By @ibtimes on

USDJPY Forecast

The USDJPY continued its bearish momentum yesterday, break below 80.85 and hit 80.43 earlier today in Asian session. The bias remains bearish in nearest term targeting 79.80 area (61.8% Fibonacci retracement of 76.21 – 85.51). On the upside, another move back above 80.85 would lead us to neutral zone in nearest term but as long as price moves below 82.00 I still prefer a bearish scenario at this phase.

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