USDJPY Forecast:

The USDJPY attempted to push lower yesterday, bottomed at 83.82 but closed higher at 84.17 and keep moving higher around 84.36 at the time I wrote this comment. The bias is neutral in nearest term but still within a major bearish scenario re-testing 83.59/35 area especially if price break below the minor bullish channel as you can see on my h1 chart below. Immediate resistance at the minor trendline resistance (red) and 84.50 area followed by 84.82. Break above 84.82 could trigger further upside momentum testing the major trendline resistance (white) and 85.50 region

©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.