USDJPY Forecast:

The USDJPY had a moderate bullish momentum on Friday. The bias remains neutral in nearest term as overall price still move inside the triangle indicating consolidation phase. Aggressive traders may short around the upper line of the triangle or long around the lower line with tight stop loss. Break above the triangle could trigger further upside momentum at least testing 93.00/50 area while break below the triangle could trigger further bearish pressure testing 89.00 region.

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