USDJPY Forecast

The USDJPY continued its bearish momentum yesterday, bottomed at 82.54 and hit 82.47 earlier today in Asian session. The bias is bearish in nearest term. I still prefer a bullish scenario and really interested to long around 82.33 support area as I have a good risk-reward ratio there. A clear break below 82.33 and consistent move back below the trend line support would be a threat to my bullish outlook with immediate next support area to be tested seen around 81.60 area before re-testing 80.00 support level.

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

.