The USDJPY attempted to push lower yesterday, bottomed at 86.97 but closed higher at 87.59 and keep moving higher around 87.81 at the time I wrote this comment. The bias is neutral in nearest term but still in a major bearish outlook. Immediate resistance at 88.23 (former support). Break above that area could trigger further bullish correction testing 88.75 – 89.00 region.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.