USDJPY Forecast
The USDJPY had a bearish momentum yesterday bottomed at 123.77. As you can see on my H4 chart below, the H4 EMA 200 support still provides a good support, keeps the bullish outlook intact. The bias is bearish in nearest term but 123.75 area (H4 EMA 200) is a good place to buy with a tight stop loss targeting 125.00 – 125.85 area. On the downside, a clear break and daily close below 123.75/50 would interrupt the bullish outlook and activate my “wait and see” mode.
