USDJPY Forecast

The USDJPY had another insignificant movement yesterday. Price has been moving sideways this week with low volatility. The bias remains neutral in nearest term. 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.

.