USDJPY Forecast

The USDJPY was indecisive on Friday but had some upside pressure earlier today in Asian session and so far rejects to move consistently below 82.00 which is the 38.2% Fibonacci retracement of 76.21 – 85.51. The bias is bullish in nearest term testing 83.30 resistance area ( 23.6% Fibonacci retracement). However note that overall we are still in a bearish phase since the fall from 85.51 and another downside pullback below 82.00 could continue the bearish pressure testing 80.85 support area.

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