USDJPY Forecast

The USDJPY had a significant bearish momentum last week, broke below 81.80 support area and hit 81.19. The bias is bearish in nearest term testing 80.23 – 79.52 area. Immediate resistance is seen around 81.50/80. A clear break above that area could lead price to neutral zone in nearest term. The major bullish reversal, scenario should remain intact but would need a clear break and daily close at least back above 83.00 to end the current bearish correction phase after the failure to make a clear break above 84.00.

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