USDJPY Forecast
The USDJPY was indecisive yesterday. Price slipped below 118.50, bottomed at 118.05 but whipsawed to the upside, closed back above 118.50 and hit 119.23 earlier today. The bias is bullish in nearest term testing 120.00 area as we might have a false breakdown bullish scenario in short term which lead price back inside the range area as you can see on my H4 chart below. Immediate support is seen around 118.80 followed by 118.50.
