USDJPY Forecast

The USDJPY didn’t make significant move yesterday. On h1 chart below we can see price is moving in a narrow range of 82.45 – 82.15. The bias is neutral in nearest term. I prefer a bullish scenario at this phase and expecting a clear break above 82.45 to activate my bullish mode targeting 83.20 – 84.40. On the downside, a break below 81.15 could trigger further bearish pullback testing 81.80 – 81.30 support area.

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