USDJPY Forecast

The USDJPY had a bullish momentum yesterday and now struggling around 81.20 resistance area. The bias is bullish in nearest term testing 82.20 key resistance area. However note that as long as price stays below 82.20, the h4/daily chart outlook remains sideways. Aggressive intraday traders can still activate their bullish mode as long as price moves inside the bullish channel or short around 82.20 with a good risk – reward ratio, a tight stop loss above 82.20. Immediate support at 80.85. A clear break below that area could lead us back to a neutral zone testing 80.20/00 support area. Price has been moving in a sideways and boring condition for more than two months now and I am expecting a good trending market on a clear break above 82.20 key resistance area.

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