USDJPY Forecast

The USDJPY didn’t make significant movement yesterday. There are no changes in my technical outlook where price is still in consolidation phase, moving in a range area between 77.21 – 76.21 and need a clear break on either side to see clearer intraday direction. The major scenario remains to the downside but need a clear break and daily close below 76.21 to continue the bearish scenario testing 75.00 region. Aggressive intraday traders can short around 77.21/50 region with a tight stop loss. I see no technical correction/reversal warning so far so long position is not recommended. Not yet.

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