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USDJPY Daily Forecast: February 09

Premium Market Reports by FXTechStrategy

USDJPY Daily Forecast: February 09
Tuesday, February 9th, 2010 @ 2:23 am by Setyo Wibowo

About Setyo Wibowo:

Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

About Me My Articles

USDJPY Forecast:
The USDJPY didn’t make significant movement yesterday. On h4 chart below we have a triangle formation indicating consolidation. The bias remains neutral in nearest term but my bearish scenario targeting 86.60 area this week should remains intact. A breakout above the triangle should trigger further bullish momentum testing 90.00 area while a breakdown below the triangle should trigger further bearish momentum testing 88.50 area. As long as price stay below 90.00, I still prefer a bearish scenario.

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