USDJPY Forecast

The USDJPY had a bearish momentum yesterday after break below the triangle formation as you can see on my hourly chart below but bounced higher and hit 81.31 earlier today in Asian session after made another rejection to move consistently below 80.85 strong support area. The bias is neutral in nearest term. Overall price has been moving indecisively since Monday with no clear direction and consistent momentum. Aggressive intraday traders can long around 80.85/70  or short around 81.75 with tight stop loss. A clear break below 80.85 could trigger further bearish momentum testing 80.16 – 79.55 while a clear break above 81.75 could trigger further upside pressure testing 82.20 – 83.30.

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