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USDJPY Daily Forecast: July 30

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07/29/2010 09:13

USDJPY Forecast:
The USDJPY had a significant bearish momentum after break below my trendline support and now seems ready to test 86.33/25 key support area. Break below that area could trigger further downside pressure testing 85.86 even 84.82 region. However, we know that 86.33/25 region could be a strong support at this phase. Not to mention that we also have a falling wedge formation as a bullish warning. A failure to break below 86.33/25 and a break above the falling wedge could trigger another upside pullback testing 87.00/50 resistance area, but the main scenario remains bearish.

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History

07/29/2010
USDCHF Daily Forecast: July 30
07/29/2010
EUR/USD Daily Review 29 Jul 10
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