The USDJPY had a strong bearish momentum on Friday after the US NFP number, failed to break above 79.00/20 key resistance area and hit 78.00. This fact keeps the bearish intraday bias remains intact testing 77.65 support area. Immediate resistance is seen around 78.50. A clear break above that area could lead price to neutral zone in nearest term but only a clear break and daily close above 79.00/20 could interrupt the bearish intraday bias. I still prefer a bullish scenario at this phase due to a good risk – reward ratio after hit the historical/record low at 75.56.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.
Most Popular Slideshows
- Jaden Smith Clarifies Emancipation Reports with Dad Will Smith on TV Show ‘Ellen’ [PHOTOS AND VIDEO]
- Demi Lovato Snapped Getting Flirty with The X-Factor Boss, Simon Cowell? [PHOTOS]
- SEE PHOTOS! Eva Longoria Wears No Panties at Cannes 2013, Revealed in Embarrassing Wardrobe Malfunction [SLIDESHOW]
- Robsten Romance: New Thorns on the Rosy Love Between Robert Pattinson and Kristen Stewart [SLIDESHOW]