USDJPY Forecast

The USDJPY didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias is neutral in nearest term and price is still moving sideways in the last four months. I still prefer a bullish scenario at this phase with buy on dips strategy expecting a bullish reversal scenario after hit the record low. Immediate support remains around 77.50 followed by 77.12. Immediate resistance is seen around 78.20/50 area. A clear break and daily close above that area could trigger further bullish momentum testing 79.52 region.

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

.