USDJPY Forecast

The USDJPY continued its bearish momentum yesterday, bottomed at 78.20 and closed at 78.54. The bias remains bearish in nearest term testing 77.70/50 area. A clear break and daily close below that area could continue the bearish scenario retesting the record low at 75.56. On the upside, only a clear break and daily close at least above 80.00 could interrupt the current strong bearish trend.

width=480px

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.