The USDJPY attempted to push lower last week, bottomed at 77.12 but closed higher at 77.60. The bias is neutral in nearest term and price still moving sideways in the last four months but I still prefer to see movement above record low 75.56 as a buy zone looking for a potential big bullish reversal scenario. Immediate support is seen around 77.12 followed by 76.56. Immediate resistance is seen around 77.80 followed by 78.20.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.