Technical Analysis for USDJPY 17 December 2009

USDJPY Forecast:
The USDJPY didn’t make significant movement yesterday, moved in small range with only 60 pips movement. However as you can see on my h4 chart below, the fact that price is able to stay above the trendline support (yellow, former resistance) indicating the pressure is still to the upside targeting 90.70 area. Only a movement back below the trendline support should be seen as bullish failure and could trigger further bearish pressure back towards 88.80 area.

http://i233.photobucket.com/albums/ee189/ariestomaster/ImageProxy-2109.jpg

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