USDJPY Forecast:

The USDJPY had a significant bearish momentum yesterday, bottomed at 93.21 and closed at 93.45. On h4 chart below we can see that the bullish channel (blue) has been violated to the downside indicating bullish failure and potential bearish continuation. The bias is bearish in nearest term targeting 92.70. However CCI just cross the -100 line up on h1 chart so watch out for potential upside rebound testing 94.00 resistance area. Break above that area should lead us back to no trading zone.