USDJPY Forecast:

The USDJPY continued it’s bearish momentum yesterday, break below 96.70, bottomed at 95.75 and closed at 95.94. This fact change my nearest term outlook from bullish to bearish testing 95.00 area, but remains neutral in medium term. On daily chart below we can see that the price seems ready to test the trendline support. The CCI is about to cross the -100 line down on daily chart support the bearish scenario. A break below the trendline support and 95.00 area should trigger further bearish scenario towards 93.00. However hourly CCI just cross the -100 line up so watch out for potential upside pullback testing 96.20/50 resistance area.