USDJPY Forecast:

The USDJPY had a bearish momentum yesterday. On h1 chart below we can see that the bullish channel has been violated to the downside indicating bullish failure and potential bearish view. The bias is bearish in nearest term testing 92.50 region. Immediate resistance at 93.30. Break above that area should lead us into neutral zone as direction would become unclear in nearest term. My technical study is a mess with this pair so I will keep stay away. The major bullish scenario remains intact but we may have a significant downside pullback from here.

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