USDJPY Forecast

The USDJPY made another insignificant movement yesterday still with small movement. There are no changes in my daily technical outlook. I have made adjustment to my trend line resistance following the latest price development. From another technical point of view as you can see on my h4 chart below, price is moving in a descending triangle formation suggests a bearish outlook but would need a clear break below the triangle and 79.55 strong support area to confirm the bearish scenario and activate my bearish mode testing 78.24 and 72.61. Immediate resistance remains around 80.50/85. A clear break above that area could trigger further bullish momentum testing 82.22 but as long as price stays below 82.22 overall we are still in a sideways condition. I still prefer to stand aside for now and until we have a movement below 79.55 or above 82.22 my technical bias remains neutral.

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