USDJPY Forecast:

The USDJPY attempted to push lower yesterday, bottomed at 90.32 but closed significantly higher at 91.12. It looks like we have a good support area around 90.15/30 area at this phase. The bias is bullish in nearest term but the bearish scenario can only be canceled by a movement above 91.85 area targeting 93.75 area. Expected range at 91.85 – 90.15/30 area at this phase so I think the best strategy is to long around 90.15/30 area or to short around 91.85 with tight stop loss.