The USDJPY was corrected higher on Friday, closed at 78.37. The bias is neutral in nearest term but as long as stays below 79.00/20 my overall intraday bias remains to the downside. Immediate support is seen around 78.00. A clear break back below that area would keep the bearish bias remains strong retesting 77.65/11 support area. I still prefer a bullish scenario due to a good risk-reward ratio after hit the 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]
- 'Fifty Shades of Grey' Movie Casting: Chace Crawford as Christian Grey & Rachel McAdams as Anastasia Steele [PHOTOS]
- Robsten Romance: New Thorns on the Rosy Love Between Robert Pattinson and Kristen Stewart [SLIDESHOW]
- IN PHOTOS! Top Moments on American Idol 2013 Final Show [SLIDESHOW]