USDJPY Daily Forecast

The USDJPY bullish correction was stopped yesterday. The pair failed to move above 94.60 key resistance level, bottomed at 93.24 and closed at 93.75. My view remains the same, that as long as stay below 94.60 I prefer a downside scenario. The bias is bearish in nearest term but we seem to have good support around 93.25 area. Break below that area should trigger further bearish momentum towards 92.50 area.