USDJPY Daily Forecast: February 22

By IBTimes Staff Reporter | February 21 2010 8:42 PM

USDJPY Forecast:

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The major trendline resistance was proved to be a good resistance area at this phase as price moving lower after touch the trendline on Friday. The trendline area seems to be a good place for a short position with a tight stop loss above it. Good technical set up and risk-reward ratio. Immediate resistance at 92.30. Consistent move above that area could be seen as potential bullish reversal scenario at least targeting 93.75 area. Immediate support at 91.25. Break below that area should trigger further bearish scenario towards 90.50 area.

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