USDJPY Forecast

The USDJPY had another insignificant movement yesterday with less than 20 pips movement. There are no changes in my technical outlook. I still prefer to have a long term perspective, seeing area above 75.65 as a buy zone, 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.