USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 122.92. The bias is bullish in nearest term testing 123.00/50 area. Immediate support is seen around 122.50, but key support remains around 122.00 which need to be clearly broken to the downside to end my bullish outlook and activate my bearish mode with nearest bearish target seen around 120.00. On the upside, a clear break above the pennant could trigger further bullish scenario retesting 125.00 region.
