USDJPY Forecast

The USDJPY continued its bullish momentum last week and slipped above 79.52, hit 79.78 earlier today. The bias remains bullish in nearest term testing 80.23. A clear break above that area could trigger further bullish scenario testing 81.46. Immediate support is seen around 79.20. A clear break below that area could lead price to neutral zone in nearest term but any downside pullback now is normal and overall I still prefer a bullish scenario at this phase, expecting a huge bullish reversal scenario after six/seven months of consolidation period since hit the record low 75.56.

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