USDJPY Forecast

The USDJPY didn’t make significant movement yesterday. Not only price has been trapped in range area of 77.80 – 76.21 for almost seven weeks now, but we haven’t seen a single convincing momentum/direction this week, and we probably will see another Doji on weekly chart. Aggressive intraday traders can still take advantage of the current sideways movement by long around 76.21 with a tight stop loss.

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