USDJPY Forecast:

The USDJPY attempted to push lower yesterday, bottomed at 89.13 but closed significantly higher at 89.85 and keep moving higher around 90.01 at the time I wrote this comment. The bias is neutral in nearest term. As you can see on my daily chart below, we have a bearish channel so I still prefer a bearish scenario at this phase with sell on rallies strategy. Expected range at 90.60 – 89.00. A violation to the bearish channel should be seen as a serious threat to the bearish scenario.