USDJPY Daily Forecast: January 25

 @ibtimes
on January 24 2010 10:31 PM

USDJPY Forecast:

The USDJPY made a moderate bearish momentum on Friday, bottomed at 89.78 and closed at 89.87. Earlier today in Asian session price is struggling around 90.15 area. We need a consistent move above that level to continue the bearish scenario towards 88.00. The bias is neutral in nearest term but I still prefer a bearish scenario at this phase. Immediate resistance at 90.55 (Friday’s high). Break above that area should trigger further upside correction testing 91.30 but only a move above 91.85 could be seen as bearish failure.

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