The USDJPY had a bullish momentum last week, topped at 77.79 and closed at 77.59. The bias remains bullish in nearest term still testing 78.27 area. Immediate support is seen around 77.50. A clear break below that area could lead price to neutral zone in nearest term testing 77.00. Overall I still prefer to have a long term perspective seeing area above record low 75.56 as a buy zone expecting huge bullish reversal scenario. Volatility remains relatively low in the last six/seven month.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.