The USDJPY had a bullish momentum on Friday and now testing 77.80 resistance area as you can see on my daily chart below. Short around 77.80 is still a good intraday plan for me with a tight stop loss above 77.80 and target remains around 76.30 – 75.56. A clear break and daily close above 77.80 not only would stop the bearish intraday outlook but also could create another major bullish reversal scenario after hit the record low.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.