USDJPY Forecast

The USDJPY attempted to push higher yesterday, slipped above 84.00 but further bullish pressure was rejected and closed lower at 83.18. The bias is neutral in nearest term but overall I still prefer a bullish scenario at this phase. Immediate support is seen around 83.00. A clear break and daily close below that area could trigger further bearish pullback testing 82.50. On the upside, we still need a clear break and daily close above 84.00/17 to continue the bullish scenario testing 85.00/50 area.

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