USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 117.81 and hit 117.94 earlier today. The hammer candlestick formation gave us a valid bullish pullback signal. The bias is bullish in nearest term testing 118.00 – 118.50 which remains a good place to sell with a tight stop loss. Immediate support is seen around 117.25. A clear break below that area could lead price to neutral zone in nearest term testing 116.70 or lower. Overall I remain bearish but need a clear break below 116.00 support area to continue the bearish scenario.
