USDJPY Daily Forecast: February 09

By IBTimes Staff Reporter | February 08 2010 9:23 PM

USDJPY Forecast:

Sponsorship Link

The USDJPY didn’t make significant movement yesterday. On h4 chart below we have a triangle formation indicating consolidation. The bias remains neutral in nearest term but my bearish scenario targeting 86.60 area this week should remains intact. A breakout above the triangle should trigger further bullish momentum testing 90.00 area while a breakdown below the triangle should trigger further bearish momentum testing 88.50 area. As long as price stay below 90.00, I still prefer a bearish scenario.

alt=