USDJPY Forecast

The USDJPY failed to continue its bullish bias yesterday, slipped below 81.80 support area but still unable to move consistently below 81.80 so far. The bias is bearish in nearest term especially if price able to make a clear break below 81.80 testing 80.23 – 79.52. Overall I still prefer a bullish scenario at this phase but the bearish correction is stronger than I had expected. Immediate resistance is seen around 82.30. A clear break above that area could lead price to neutral zone in nearest term but would need a clear break and daily close at least above 83.00 to keep the bullish scenario remains strong.

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