USDJPY Forecast
The USDJPY failed to continue its bearish momentum yesterday topped at 121.24 but traded lower earlier today hit 120.57. The bias is bullish in nearest term testing 121.30 key resistance which remains a good place to sell with a tight stop loss. Immediate support is seen around 120.50. A clear break below that area could lead price to neutral zone in nearest term testing 120.00 area. My major technical outlook remains neutral as price is still trapped inside the range area of 121.30 – 118.50 as you can see on my H4 chart below.
