USDJPY Forecast:

The false breakdown from the major trendline support (red) gave us a valid bullish signal on Friday as price topped at 89.80 but closed a little bit lower at 89.10. The bias is neutral in nearest term but overall the bullish scenario should remains intact. As you can see on my h4 chart below, price is now testing theĀ  trendline support (blue, 1). Break below that trendline should be a serious threat to the bullish outlook at least targeting 87.35. Bullish continuation will be confirmed only if bullish pressure able to break above trendline resistance (blue, 2) targeting 90.70 area.