The USDJPY didn’t make significant movement on Friday. On h1 chart below we can see that price still struggling around the minor trendline resistance without clear direction. Very tricky pair and I will keep stay away for now. Expected range at 93.63 – 91.71. Break below 91.71 could trigger further bearish momentum re-testing the major trendline support. On the upside we need a consistent move above 93.63/75 area to continue the bullish scenario testing 94.70 region.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.