USDJPY Daily Forecast

The USDJPY failed to continue it’s bullish correction on Friday. The pair attempted to push higher, topped at 97.16 but further bullish momentum was rejected as the pair whipsawed to the downside, hit the low at 95.99 and closed at 96.16. In nearest term, as long as the pair stay below 97.20/60 resistance area, expect further downside pressure testing the support trendline (see the h4 chart below). Break below that support trendline should trigger further bearish momentum towards 93.80 area. Immediate support at 95.50. CCI in neutral area on daily chart.