USDJPY Forecast

The USDJPY had a moderate bullish momentum yesterday but still unable to move consistently above 80.85 so far. The bias remains bullish in nearest term especially if price able to make a clear break above 80.85 testing 81.50 region which could open the door for further bullish attempt testing 82.20. However note that overall price still trapped in range area of 79.55 – 82.20 and need a clear break on either side to see clearer direction. Immediate support at 80.50. A clear break below that area could trigger further bearish pressure testing 80.00 and 79.55. Aggressive intraday traders can still long around 80.00 – 79.55 with a tight stop loss below 79.55 or short around 82.20, also with tight stop loss as a clear break above 82.20 could lead us to a new bullish phase.

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