USDJPY Forecast
The USDJPY attempted to push higher last week topped at 120.08 but whipsawed to the downside and closed at 118.99. The bias is bearish in nearest term testing 118.00 key support. Immediate resistance is seen around 119.20. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. Overall price is still moving sideways between 118.00 – 120.50 as you can see on my H4 chart below. Buying around 118.00 with a tight stop loss seems to be a good idea at this phase.
