USDJPY Forecast:

The USDJPY failed to continue its bullish momentum yesterday. Very tricky pair. On h1 chart below we can see that price corrected lower after found resistance around 94.35 area and keep moving lower and now testing the lower line of the bullish channel, struggling around 93.75 support area. Break below that area should trigger further bearish pullback testing 93.30 – 93.00 region. The bullish scenario remains intact but we need a clear break above 94.70 area to continue the bullish scenario towards 95.50 and 96.70. I think I will stay away from this pair for now.

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