USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 120.34 but whipsawed to the upside and closed higher at 121.01. The bias is neutral in nearest term probably with a little bullish bias especially if price able to make a clear break above 121.25 but as long as stays below 122.20 I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell targeting 120.50 – 119.50 region. Fundamental focus this week will be on the FOMC interest rate decision on Wednesday/Thursday where the Fed is widely expected to raise interest rate for the first time since 2006.
