USDJPY Forecast

The USDJPY continued its bearish momentum last week, bottomed at 77.65 and closed at 77.98. The bias remains bearish in nearest term testing 77.35/00 before testing the record low at 75.56. Immediate resistance is seen around 78.65. A clear break above that area could lead price to neutral zone in nearest term testing 79.00 but as long as stays below 80.00 my overall intraday bias remains strongly to the downside.

width=480px

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

.