USDJPY Daily Forecast: May 18

By @ibtimes on

USDJPY Forecast

The USDJPY had a bullish momentum yesterday, topped at 81.76 but traded lower and hit 80.96 earlier today in Asian session. The bias is neutral in nearest term but as long as price stays above the trend line support (white) my intraday bias remains more to the upside. Immediate support at 80.85/40 area. I don’t expect any move below that support area today as it would be a threat to my bullish intraday outlook. On the upside, immediate resistance remains around 82.00 which is also the nearest bullish target.

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