USDJPY Forecast

The USDJPY continued its bullish momentum yesterday, topped at 80.32 and hit 80.51 earlier today. The bias is bullish in nearest term testing 81.00 key resistance area. Immediate support is seen around 80.00. A clear break back below that area could lead price to neutral zone in nearest term as direction would become unclear. From a longer term outlook, the break above 80.00 give another chance for the major bullish reversal scenario after hit the record low.

width=480px

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

.