USDJPY Forecast:

The USDJPY was corrected lower yesterday, bottomed at 89.03, closed at 89.34 and keep moving lower earlier today in Asian session around 88.85 at the time I wrote this comment. On h4 chart below we can see that the pair made a bearish momentum after a shooting star candlestick pattern was formed indicating potential downside pullback. The major bullish scenario should remains intact but the bias is neutral in nearest term and I think will stand aside for now. Immediate support at 88.8050 area. Break below that area should trigger further bearish momentum testing the trendline support area (red, former resistance) and could be a serious threat to the bullish scenario. Initial resistance at 90.30/70 area.