USDJPY Forecast

The USDJPY started this week with some upside pressure earlier today in Asian session, hit 80.87 and move above the trend line resistance as you can see on my daily chart below. The bias is bullish in nearest term especially if price able to make a clear break above 80.85 testing 81.50 region. However overall price is still moving in range area of 79.55 – 82.20 and need a clear break on either side to see clearer direction. I still prefer to stand aside. Immediate support at 80.45 (current low). A clear break below that area would lead us to neutral zone in nearest term, reopen the door for another downside attempt retesting 80.00 – 79.55 strong support area and keep price a little bit longer in this sideways and boring condition.

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