USDJPY Forecast
The USDJPY was indecisive yesterday. Price attempted to push higher, slipped above 121.00 but still unable to stay consistently above 121.00 so far. The bias is neutral in nearest term probably with a little bullish bias retesting 121.00. A clear break above that area could trigger further bullish pressure testing 122.00 region. Immediate support is seen around 120.40. A clear break below that area could trigger further bearish pressure testing 119.60 area. Potential daily range today remains between 119.60 – 121.00. Overall I still prefer a bearish scenario but need a clear break at least back below 120.00 – 119.60 to keep the bearish scenario remains strong.
