Thursday, October 28, 2010

USDJPY Forecast

The USDJPY attempted to push higher yesterday, but still unable to make a clear break above 81.95 so far, traded around 81.62 at the time I wrote this comment. The bias is neutral in nearest term and we are still in consolidation phase. We need a clear break above 81.95 to continue the bullish momentum testing 82.87. Immediate support at 81.50. Break below that area could trigger further bearish pressure testing 80.85/40 area.


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