USDJPY Forecast

The USDJPY had a moderate bearish momentum on Friday. On h4 chart below we can see that price slipped below the triangle indicating potential bearish view. However we have not seen a significant downside momentum so far and need a consistent move below 90.50 to continue the bearish scenario testing 89.00 region. Another movement back inside the triangle will lead us back to no trading zone area. Immediate resistance at 91.07 (Friday’s high). Consistent move above that area could trigger further bullish momentum testing 92.07 region.

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