USDJPY Forecast

The USDJPY attempted to push higher yesterday after the break above the minor range as you can see on my daily chart below, but further bullish momentum was rejected after found good resistance at 78.27 and closed lower at 77.77. The bias is neutral in nearest term but with a little bit bullish intraday bias. A clear break and daily close above 78.27 could trigger further bullish scenario testing 79.52 key resistance area. From a broader outlook, I still prefer a bullish scenario at this phase, 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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