USDJPY Forecast
The USDJPY had a bearish momentum yesterday bottomed at 122.29. The bias is bearish in nearest term testing 122.20 key support. A clear break and daily/weekly close below that area could trigger further bearish pressure testing 121.50 – 120.00 area next week. Immediate resistance is seen around 123.00. A clear break back above that area would keep price inside the range area retesting 123.60 key resistance which remains a good place to sell with a tight stop loss. I still prefer a bearish scenario at this phase. Fundamental focus today will be on the US NFP number.
