USDJPY Forecast

The USDJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but as long as price stays above 77.80, the major bullish reversal scenario since the breakout above the range area after the intervention should remain intact testing 80.23, 81.46, 82.22 even 85.51. On the downside, a clear break and daily close back below 77.80 could be a threat to the bullish outlook testing 76.30 area even aiming for another new record low as we might have another intervention failure.

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

.