USDJPY Forecast

The USDJPY was able to maintain its bullish intraday bias last week. Although we have not seen significant bullish momentum so far, by staying above 77.80 the intraday technical bias should remain more to the upside, testing 79.52 as the nearest bullish target. A clear break and daily close above that area could trigger further bullish momentum testing 80.00 and 81.00 resistance area as a part of  a potential bullish reversal scenario after hit the record low at 75.65.

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

.