USDJPY Forecast

The USDJPY had a bullish momentum last week after failed to break below 80.23 support area, closed at 81.50. The bias is bullish in nearest term testing 81.80. A clear break and daily close above that area could trigger further bullish pressure testing 83.00 region. Immediate support remains around 81.00 – 80.80. A clear break below that area could lead price to neutral zone in nearest term retesting 80.23 – 79.52 support area, which remains a good place to buy with a stop loss below 79.52.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.