USDJPY Forecast

The USDJPY continued its bearish correction yesterday, bottomed at 83.45 and closed at 83.75. Price is now in a bearish correction phase. Important support to be watched closely is around 83.45, which form a triple bottom formation as you can see on my h4 chart below. At the same time, we have a CCI bullish divergence suggests potential upside pressure but only a clear break above 84.70 would potentially end the current bearish correction phase retesting 85.90 key resistance area. On the downside, a clear break below the triple bottom formation and 83.45 would continue the current bearish correction testing 82.55/00 key support area.

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