USDJPY Forecast

The USDJPY had a moderate bullish momentum yesterday but found a good intraday resistance around 81.20. Overall there is no significant technical movement so far. Beside the major range between 79.55 – 82.20 in the last two months, there is a minor range between 80.20 – 81.20 (blue box) where price has been trapped for more than a week now since the break above the trend line resistance. Aggressive intraday traders can still long around 80.00 – 79.55 with tight stop loss below 79.55 or short around 82.20 also with tight stop loss.  I will keep stay away from this pair for now.

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