USDJPY Forecast:

The USDJPY attempted to push lower yesterday, bottomed at 87.35 but closed a little bit higher at 87.98. The bias is neutral in nearest term but the bearish correction scenario should remains intact. On h4 chart below we can see that price made a false breakdown below the trendline support which potentially produce some upside momentum testing 88.80 area. Immediate support at 87.35 (yesterday’s low). Break below that area and consistent move below trendline support should trigger further bearish momentum towards 86.60 area.