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USDJPY Daily Forecast: February 22

USDJPY Daily Forecast: February 22
Wednesday, February 22nd, 2012 @ 2:40 am by Setyo Wibowo

About Setyo Wibowo:

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.

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USDJPY Forecast
The USDJPY didn’t make significant movement yesterday, but overall still able to maintain its intraday bullish bias. There are no changes in my technical outlook. The bias remains bullish in nearest term testing 80.23. Immediate support is seen around 79.50/20. A clear break below that area could lead price to neutral zone in nearest term but overall I still prefer a bullish scenario at this phase expecting huge bullish reversal scenario after hit the record low four months ago.

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