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USDJPY Forecast:
The USDJPY attempted to push lower yesterday, bottomed at 83.49 but closed higher at 83.77 and keep moving higher earlier today in Asian session, hit 84.28. Like I said yesterday, the rejection from 83.35 historical level could produce bearish exhaustion and price is making a new bullish channel after rebound from that support. The bias is bullish in nearest term testing 84.82 and the trend line resistance. Break above that area could be seen as a beginning of a new bullish phase at least in nearest term. On the downside, only a break below 83.35 could continue the bearish scenario.
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