USDJPY Forecast:

The USDJPY continued its bearish momentum yesterday, bottomed at 89.91 and closed at 90.20. On h4 chart below we can see that the bullish channel has been violated to the downside indicating bullish failure and potential bearish outlook. The bias remains bearish in nearest term targeting 89.50 area. Break below that area should trigger further bearish scenario towards 88.50. Immediate resistance at 90.50/60 area. Break above that area should lead us into no trading zone as direction would become unclear but I still prefer a bearish scenario at this phase.