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USDJPY Daily Forecast: January 22

USDJPY Daily Forecast: January 22
Friday, January 22nd, 2010 @ 3:01 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:
My Strategy to short around 91.85 worked perfectly yesterday. Price topped at 91.87 before whipsawed to the downside, bottomed at 90.11 and closed at 90.42. Earlier today in Asian session price keep moving lower below 90.15 support area indicating potential further bearish momentum targeting 88.00 area. The bias is bearish in nearest term. Immediate resistance at 90.30/50 area. Break above that area should lead us into no trading zone as price may trapped in choppy market again.

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