USDJPY Forecast:

The USDJPY had a moderate bearish momentum yesterday, bottomed at 94.62 and closed at 94.90. On h4 chart below we can see that the trendline support has been violated to the downside, suggests potential bearish outlook and an end to the bullish correction. However I would wait until a clear break below 94.35 (Tuesday’s low) to confirm the bearish scenario. Immediate resistance is seen at 95.50 area. Break above that area should diminish the bearish outlook. CCI in neutral area on h4 chart.