USDJPY Daily Forecast

As I had expected, the USDJPY continued it’s bearish momentum yesterday. The pair hit my short target at 95.50 (bottomed there too!) and closed at 95.73. On daily chart below we can see that the price is now challenging the major trendline support. Break below the trendline should bring us into bearish medium outlook. The bias remains bearish in nearest term targeting 94.65 area. However CCI about to cross the -100 line up on h4 chart so watch out for a potential upside rebound testing 96.00 – 96.70 resistance area.