The USDJPY was indecisive yesterday. The bias is neutral in nearest term. The “hammer” Bullish Reversal Scenario remains valid and any sustained movement back above 111.30 could create a nice bullish run testing 112.00 – 113.00 region or higher. On the downside, key support remains at 110.10. A clear break below that area would cancel the “hammer” bullish reversal scenario.
This post first appeared on FX Instructor Forex Blog - For Traders, By Traders, please read the originial post: here