The USDJPY continued its bearish momentum on Friday, bottomed at 86.25 but closed higher at 86.66. The bias is neutral in nearest term but still within a major bearish scenario. Immediate resistance at 87.00. Break above that area could lead us into neutral zone in nearest term testing 87.50 – 88.00 area. On the downside, 85.86 area remains potential nearest bearish target before testing 84.82.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.