USDJPY Forecast

The USDJPY had another indecisive movement last week, made another Doji on weekly chart. As you can see on my daily chart below price is moving sideway in a minor range between 77.31 – 76.54 and need a clear break on either side to see clearer direction. 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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