The USDJPY made another insignificant movement yesterday. There are no changes in my technical outlook. 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. Expected daily range remains between 76.21 – 77.21.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.