USDJPY Forecast

The USDJPY had a moderate bullish momentum yesterday. On daily chart below we can see that we are still in an uptrend as price still move inside the bullish channel without serious threat so far with the trendline resistance (red) area as potential area to be tested by current bullish momentum. However note that we seem to have good resistance around 92.30 – 92.50 area. We need a consistent move above that area to continue the bullish momentum at least towards 93.00 today. Immediate support at 91.50. I am in buy mode for this pair and short position is not recommended.

width=480px

Forex Trader Library
Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.