USDJPY Forecast

The USDJPY slipped below 80.85 yesterday but closed a little bit higher at 81.02. The bias remains bearish in nearest term especially if price able to move consistently below 80.85 targeting 79.80. Immediate resistance at 81.10 followed by 81.60. A clear break above 81.60 would lead us to neutral zone in nearest term but as long as price moves below 82.00 I still prefer a bearish scenario.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.