USDJPY Forecast

The USDJPY had a bullish momentum yesterday, topped at 77.31 and closed at 77.07. The bias is bullish in nearest term especially if price able to make a clear break and daily close above 77.31 testing 78.00 area. Overall there are no changes in my technical outlook and price is still in a long period of consolidation, moving sideways since six months ago. I still prefer to have a long term perspective, seeing area above 75.56 as a buy zone expecting a bullish reversal scenario with a tight stop loss below 75.56.

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