The USDJPY didn’t make significant movement yesterday. The bias is neutral in nearest term. There are no changes in my daily technical outlook and overall price still trapped in range area of 79.55 – 82.22 since May. CCI still moves below the zero line on hourly, h4 and daily chart suggests potential downside attempt testing 79.55 strong support area. Aggressive intraday traders can still long around 79.55 with tight stop loss as a clear break below that area could trigger further bearish momentum testing 78.24 and 76.21 and would activate my bearish intraday mode. Immediate resistance remains 80.50/85. A clear break above that area could trigger further bullish momentum testing 82.22 region.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.