USDJPY Forecast

The USDJPY had a significant bullish momentum yesterday, broke and closed above 77.80. This fact changes my intraday bias to a bullish view testing 79.00/52 area and give another chance for a major bullish reversal scenario after hit the record low. On the downside, another consistent movement back below 77.80 would postpone the bullish reversal scenario but I am beginning to like the upside scenario at this phase.

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

.