USDJPY Forecast
The USDJPY had another indecisive movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term and price is still trapped inside the range area between 123.60 – 122.20 as you can see on my H4 chart below. Overall I still prefer a bearish scenario at this phase but need a clear break below 122.20 to confirm the bearish scenario targeting 121.50 or lower. On the upside, 123.60 remains a key resistance. A clear break above that area could trigger further bullish pressure testing 124.00/50 region. Fundamental focus will be on the US NFP on Friday.
