USDJPY Forecast

The USDJPY still able to maintain its bearish bias on Friday and now testing Thursday’s low at 81.61. A clear break below that area would continue the “head and shoulders” bearish scenario targeting 81.30 – 80.90. Immediate resistance at 82.05. A clear break above that area would lead us to neutral zone in nearest term testing 82.50 but I think the overall bias should remain to the downside and I still prefer a bearish scenario at this phase.

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

.