USDJPY Daily Forecast: April 19

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By swibowo | April 19, 2011 1:21 PM EST

Fx Instructor

USDJPY Forecast

The USDJPY continued its bearish momentum yesterday after break below the descending triangle as you can see on my hourly chart below bottomed at 82.17 but was corrected higher and hit 82.67 earlier today in Asian session. The bias remains bearish in nearest term still testing 82.00. A clear break below 82.00 could trigger further bearish pressure testing 80.50. However, beware of potential intervention by the Japanese government and G7 countries to weaken the Yen.

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