USDJPY Forecast
The USDJPY was indecisive last week formed a Doji on weekly chart. As you can see on my H4 chart below price is still moving inside a range area between 123.60 – 122.20. The bias is neutral in nearest term. I prefer a bearish scenario at this phase but need a clear break below 122.20 to confirm the bearish scenario testing 121.50 or lower. On the upside, 123.60 remains a key resistance. A clear break above that area could trigger further bullish pressure testing 124.00/50 region.
