USDJPY Forecast

The USDJPY made another indecisive movement yesterday. There are no changes in my technical outlook. Expected intraday range between 76.21 – 77.21. The major scenario remains strongly to the downside but need a clear break below 76.21 to continue the bearish scenario testing 75.00. On the upside, a clear break above 77.21/50 could trigger further bullish pullback testing 78.50 but as long as price stays below 79.55 my overall technical bias remains strongly bearish.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.