USDJPY Forecast

The USDJPY ended 2010 with bearish bias after violated the trend line support, hit 80.93 on Friday but corrected higher earlier today in Asian session, struggling around 81.30 area. The bias remains bearish in nearest term still targeting 80.00 support area especially if price able to make another break below 80.93. Immediate resistance at 81.80. Break above that area could lead us to neutral zone in nearest term testing 82.33. Overall CCI indicator still moves in negative territory suggests potential downside pressure.

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