USDJPY Forecast

The USDJPY had a bullish momentum yesterday and now struggling around 80.85 resistance area. On h4 chart below we have an ascending triangle formation suggests potential upside scenario especially if price able to move consistently above 80.85 testing 82.00 key resistance area. The bearish outlook since the fall from 85.51 remains intact but need a clear break below 79.80 to continue the bearish scenario testing 78.24 even 76.21.

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