USDJPY Forecast

The USDJPY failed to continue its bearish momentum yesterday, topped at 81.42 and hit 81.55 earlier today. The bias is neutral in nearest term. Potential daily range is seen between 81.80 – 80.23 and we need a clear break from the range area to see clearer direction. A clear break above 81.80 could end the current bearish correction phase at least testing 83.00 region. On the downside, 80.23 – 79.52 area remains a good place to buy with a stop loss below 79.52.

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