USDJPY Forecast:

The USDJPY failed to continued it’s bullish correction scenario yesterday. On daily chart below we can see that the trendline resistance has been violated to the downside suggests that bullish correction might be over now and continue the long term bearish trend. CCI just cross the 100 line down on daily chart suggesting potential downside scenario. The bias is bearish in nearest term targeting 94.50 area. Immediate resistance is seen at 95.70.