USDJPY Forecast

The USDJPY had another insignificant movement yesterday. There are no changes in my technical outlook and the movement is still boring. As you can see on my daily chart below price is moving sideway in a minor range between 77.31 – 76.54 and need a clear break on either side to see clearer direction. Price is still in a long period of consolidation, moving sideways since six months ago. I still prefer to have a long term perspective, seeing area above 75.56 as a buy zone expecting a bullish reversal scenario with a tight stop loss below 75.56.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.