USDJPY Daily Forecast: October 29 - Forex Forum

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29th October 2009, 08:36

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USDJPY Daily Forecast: October 29

USDJPY Forecast:
The USDJPY continued it’s bearish momentum yesterday, bottomed at 90.54 and closed at 90.73. After failed to break above 92.50 resistance area, the pair keep moving lower and now, as you can see on my h4 chart below, has violated the bullish channel to the downside indicating potential further bearish momentum. The bias remains bearish targeting 90.00 – 89.50 area. Immediate resistance is seen at 91.10 area. Break above that area should lead us into no trading zone.

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