USDJPY Forecast

The USDJPY regained its bullish momentum yesterday and now testing 83.00. The bias is bullish in nearest term especially if price able to make a clear break above 83.00 testing 84.00/17 resistance area. Immediate support is seen around 82.50. A clear break below that area could lead price to neutral zone in nearest term retesting 81.80 but overall I still prefer a bullish scenario at this phase as a part of the bullish reversal scenario after hit the record low.

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