USDJPY Forecast:

The USDJPY still consolidating so far in range area of 86.25 – 84.82/73 with no significant technical move. The bias remains neutral in nearest term and the major scenario remains to the downside but we need a clear break below 84.82/73 key support area to continue the bearish scenario testing 83.35.  On the upside, the trendline resistance remains my key resistance area at this phase. Break above that trendline could diminish the bearish outlook testing 87.00/50 region.

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

.