USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 122.47 but closed higher at 122.95. The bias is neutral in nearest term probably with a little bullish bias. As you can see on my H4 chart below, price is testing the upper line of my pennant formation. A clear break above the pennant could trigger further bullish pressure testing 125.00 or higher. Overall, I still prefer a bullish scenario at this phase with a tight stop loss below 122.00.
