USDJPY Daily Forecast: January 27

By IBTimes Staff Reporter | January 26 2010 8:59 PM

USDJPY Forecast:

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The USDJPY had a bearish momentum yesterday, bottomed at 89.34 and closed at 89.64. The fact that price able to stay below 90.15 area so far indicating potential further bearish momentum targeting 89.00 and 88.00 area. The bias is bearish in nearest term. A move back above 90.15 should lead us into no trading zone but I still prefer a bearish scenario with sell on rallies strategy.

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