USDJPY Forecast:

The USDJPY made another insignificant movement yesterday. The bias remains neutral in nearest term with expected range remains at 86.25 – 84.82/73 but still in the context of a major bearish scenario. We know that 84.82/73 area is a strong support at this phase so price need to break below that area before continue the bearish scenario testing 83.35 region. On the upside, only a move above the trendline resistance could be a serious threat to the current bearish outlook.

©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.