USDJPY Forecast:

The USDJPY failed to continued it’s bearish momentum yesterday, topped at 95.42 and closed at 95.25. On daily chart below we can see that the trendline support did a good job preventing further bearish attack and keep bullish correction scenario which has started from July 13, indicating that further bullish correction could still take place.  The pair is now traded between trendline resistance and trendline support. Technically, this fact is a no trading zone for me. I am expecting trading range of 96.00 – 94.90 area today.