USDJPY Forecast:

The USDJPY was corrected lower yesterday, bottomed at 96.90 and closed at 97.06. As long as the pair stay above 96.70, any downside correction is normal after significant bullish running on Friday. On h1 chart below we have a “flag” formation which technically a bullish continuation scenario, where the price consolidates lower in a minor bearish channel after significant bullish and a breakout from the flag’s upper border is expected to continue the bullish scenario towards 98.50. However, until that happen, I prefer to stay out for now.