The USDJPY continued its bullish momentum yesterday, topped at 94.03 and closed at 93.81 but still unable to consistently move above 93.75 area earlier today in Asian session. The main outlook remains bullish with 95.50 as bullish target but the bias is neutral in nearest term. We need a consistent move above 93.75 to continue the bullish scenario. Immediate support at 93.28 (yesterday’s low). Break below that area could lead us into no trading zone but I still prefer a bullish scenario at this phase.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.