USDJPY Daily Forecast: October 29

USDJPY Forecast

The USDJPY attempted to push higher last week topped at 80.37 but closed lower at 79.62 on Friday. The bias is neutral in nearest term but overall I still prefer a bullish scenario at this phase. Immediate support is seen around 79.40. A clear break below that area could trigger further bearish pressure testing 79.00. Immediate resistance is seen around 79.75/80. A clear break above that area could trigger further bullish pressure testing 80.00/50 which needs to be clearly broken to the upside to continue the bullish scenario.