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DAILY FORECAST FOR USDJPY

Written by Fx Forecaster Thursday, 18 February 2010 09:17

Market Analysis - Daily Technical Analysis

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Bias:    While the 90.94 area supports look for a rally to the 91.75 target before correcting lower

The break above 90.51 has opened up a potentially quite bullish structure. For now I think we'll see the 90.94 support hold and generate follow-through back to 91.37 and then followed by 91.75. I feel this will cap for a correction. Thus, only above 91.75-80 would maintain the bullish momentum for 92.02 and then the 92.25-35 area. This would merely imply a deeper follow-through but should still cause a correction lower.

Please view the complete analysis in the attached PDF file.

For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site.

Kind regards

Ian


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