USDJPY Forecast:

The USDJPY made another indecisive movement yesterday, made another Doji on daily chart. On h4 chart below we can see that price still trapped in range area of 93.75 – 92.50 indicating consolidation. The bias remains neutral in nearest term. I still prefer a bullish scenario but we need a clear break above 93.75 to end the consolidation phase/downside correction targeting 95.50 region. On the other hand, break below 92.50 and violation to the bullish channel could be seen as a serious threat to the bullish scenario.

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