USDJPY Daily Forecast: February 04

By IBTimes Staff Reporter | February 03 2010 10:45 PM

USDJPY Forecast:

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The USDJPY had a bullish momentum yesterday, topped at 91.26 and closed at 90.95. This fact should open the door for further bullish momentum at least towards 91.85 area. Immediate support at 90.70. Break below that area should lead us back into no trading zone testing 90.00 support area, but as long as price stay above the trendline support (red), I prefer a bullish scenario at this phase. Break above 91.85 should continue the bullish momentum testing the major trendline resistance (blue).

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