The USDJPY bearish momentum was stopped last week. Volatility remains low and 79.52/35 key support area still hold so far. There are no changes in my technical outlook and 79.52/35 region remains a good place to buy with stop loss below 79.35. Immediate support is seen around 79.70. A clear break below that area could trigger further bearish pressure retesting 79.52/35. Immediate resistance is seen around 80.23. A clear break and daily close above that area could trigger further bullish pressure testing 81.00 – 81.80.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.