USDJPY Forecast
The USDJPY was indecisive yesterday. Price slipped below the bullish channel as you can see on my h4 chart below suggests a potential bearish scenario. The bias is bearish in nearest term testing 119.30. A clear break below that area could trigger further bearish pressure testing 118.70 area. Immediate resistance is seen around 119.90. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish scenario remains intact testing 120.30 – 120.60 or higher.
