USDJPY Forecast

The USDJPY still able to maintain its bullish intraday bias yesterday but still unable to make a break above 85.90 key resistance area and traded lower earlier today in Asian session hit 85.10. The bias is neutral in nearest term and some downside pullback could be seen today testing 84.71 support area. A clear break and daily close below 84.71 could trigger further bearish consolidation testing 84.15 but overall the major scenario remains strongly bullish for me. On the upside, a clear break above 85.51 would change the intraday bias back to bullish retesting 85.90. Above 85.90, 86.30/50 area would be the next nearest bullish target.

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