USDJPY Forecast

The USDJPY attempted to push lower yesterday, bottomed at 82.83 but whipsawed to the upside, topped at 83.82 and closed at 83.80. Nearest term technical study is a little bit mess. I change my range area to 84.00 – 82.33 as a reaction to the latest development. The bias is bullish in nearest term re-testing 84.40 key resistance area. We need a clear break above that area to continue the bullish scenario targeting 85.00/20 region. Immediate support at 83.40/50 followed by 82.70/80. I will keep stand aside from this pair.

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

.