USDJPY Daily Forecast: December 16
December 15, 2009 - 9:51 pm by FX Instructor · Leave a Comment
USDJPY Forecast:
The USDJPY had a significant technical move yesterday by slipped above the trendline resistance (yellow). This fact indicating the pressure is more to the upside now testing 90.70 area.
However, as you can see in my h4 chart below, price retreated to the downside and struggling around the trendline. A movement back below the trendline could be considered as a false breakout which could trigger significant bearish momentum back towards 88.80 area.
Setyo Wibowo
fxinstructor.com
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