USDJPY Daily Forecast

The “hammer” formation gave us a valid bullish correction signal yesterday. The USDJPY topped at 93.75 and closed at 93.61. The bias remains bullish in nearest term testing key resistance area 94.60. Unless that area violated to the upside, I still prefer downside scenario in medium term. Immediate support is seen at 92.50. CCI just cross the -100 line up on daily chart suggesting potential upside pressure.