USDJPY Forecast

The USDJPY continued its bullish bias yesterday, topped at 79.78 but traded lower earlier today hit 79.36. There are no changes in my technical outlook. The bias remains bullish in nearest term still testing 80.00. A clear break and daily close above 80.00 would give another chance for the bullish reversal scenario after hit the record low. On the downside, a clear break and daily close back below 79.00 would lead price to neutral zone in nearest term testing 78.27/00 support area.

width=480px

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

.