The USDJPY continued its bearish pressure yesterday, broke below 82.50 as you can see on my h4 chart below. The bias remains bearish in nearest term targeting 81.80 – 81.30 support area. On the upside, another move back above 82.50 would lead us to neutral zone in nearest term but overall the “head and shoulders” bearish scenario remains valid and the pressure should remain to the downside.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.