USDJPY Daily Forecast

The USDJPY attempted to push lower yesterday, bottomed at 95.30 but further downside pressure was rejected as the pair whipsawed to the upside, hit the top at 96.50 and closed at 96.32. On h4 chart below we can see that the pair has been struggling around the trendline area since June 23 and we haven’t seen convincing direction so far. I think we are in no trading zone now, but I still prefer bearish scenario as long as the pair stay below 96.70 key level. Immediate support is seen at 95.30/00 area.