Written by Bahagian Pentadbiran in
| USD/JPY Daily Forecast
Wed,April 20, 2011 | Dear Fellow Trader,
Setyo here with the latest daily forex update from the FX Instructor Forex Blog.
If you have any questions about today's update - please reply to this email and I will be happy to help. | | The USDJPY failed to continue its bearish momentum yesterday and hit 83.09 earlier today in Asian session. Overall price is still in a bearish correction phase and need a clear break above 84.70 to continue the bullish scenario after the intervention, but my intraday bias is now bullish testing 83.77 area. After broke below the descending triangle, the downside pressure was limited and price moved in another symmetrical triangle which is now has been broken to the upside suggests more bullish intraday bias. Immediate support at 82.50. A clear break below that area would lead us to neutral zone in nearest term but would keep the bearish correction remains strong still testing 82.00 key support area. Please click here to see how I applied my technical studies to this pair on the hourly chart a few minutes ago. |
| I hope you enjoyed today's forex update! If you have any questions or suggestions, reply to this email - or visit me at the FX Instructor Blog. Happy Trading! | | | Analyst Profile Living in East Java, Indonesia and holding an International Relations degree, Setyo Wibowo began his forex trading career in 2000 as a market analyst, while learning to trade forex independently on his own. to learn more about Setyo Wibowo. |
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