USDJPY Daily Forecast: February 21

By @ibtimes on

USDJPY Forecast

The USDJPY attempted to push lower yesterday but still unable to move below immediate support 79.20. This fact keeps the intraday bias remains strongly to the upside, still testing 80.23 area as the nearest bullish target. A clear break below 79.20 could trigger further bearish pullback testing 78.50 support area 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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