USDJPY Forecast
The USDJPY failed to continue its bearish momentum yesterday. As you can see on my h4 chart below, we have a good support around the lower line of a bullish channel. The bias is neutral in nearest term. Immediate support is seen around 120.50. A clear break below that area could trigger further bearish pressure retesting the lower line of the bearish channel and 120.00 support area. Immediate resistance is seen around 121.00. A clear break above that area could trigger further bullish pressure testing 122.00 area.
