USDJPY Forecast:

The USDJPY attempted to push lower yesterday, bottomed at 93.78 but failed to closed below 94.00 area. On h4 chart below we can see that after violated the bearish channel to the upside, the pair is now making a new bullish channel indicating a potential bullish rebound. So, as long as the pair able to stay above 94.00 area, expect further bullish rebound back towards 95.05 area. However a failure to stay above 94.00 and break below 93.78 should continue the bearish momentum.