USDJPY Forecast:

The USDJPY didn’t make significant movement yesterday indicating consolidation after bearish momentum since Monday. The bias is neutral in nearest term but the false breakdown from the trendline support can produce some bullish momentum testing 88.80 – 89.50 area. On the downside, initial resistance is seen at 87.35/10 area. Break below that area and consistent move below the trendline should trigger further bearish momentum towards 85.80.