USDJPY Forecast

The USDJPY made another indecisive movement yesterday. There are no changes in my daily technical outlook. The bias remain neutral in nearest term but still within a bearish intraday context testing 79.55.  A clear break below that area could trigger further downside scenario testing 78.24 even 76.21. Immediate resistance around 80.40. A clear break above that area could trigger further bullish pullback testing 80.85 but as long as price stays below 80.85 I think the bearish bias should remain strong.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.