The USDJPY attempted to push lower after break below 91.71 yesterday, bottomed at 90.95 but price bounced to the upside after found support around the major trendline support and now back struggling around 91.71 area. The bias is neutral in nearest term. The battle now is between the trendline support (white) and trendline resistance (red) as you can see on my h1 chart below. Break on either side could give us clearer direction. Short around the trendline resistance and long around the trendline support can be a good idea in this phase.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.