USDJPY Forecast:

The USDJPY didn’t make significant movement yesterday. The bias remains neutral in nearest term. The descending triangle scenario failed, so it’s time to look for another technical view. On h4 chart below we can see that price is moving in a big triangle formation indicating consolidation. Expected range at 92.07 – 90.83. I will stay away from this pair from now as direction is unclear.

©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.