USDJPY Forecast

The USDJPY slipped below 88.23 yesterday, but whipsawed to the upside and closed higher at 88.71. This fact should keep the bullish correction scenario intact with nearest target remains at 89.50 and 90.50 but note that the major trend remains bearish. On the downside, we need a consistent move below 88.23/00 region to cancel this bullish scenario targeting 87.00.

©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.