USDJPY Forecast

The USDJPY continued its bullish momentum yesterday topped at 81.25 and closed at 81.04. The bias remains bullish in nearest term still testing 81.50. A clear break above that area could trigger further bullish pressure testing 82.20 but as long as price stays below 82.20 overall we are still in a sideways condition between 79.55 – 82.20 since May. The fact that price is now convincingly moves above the trend line resistance might give us an early bullish signal but only a clear break above 82.20 confirms my bullish outlook. Immediate support at 80.50. A clear break below that area could stop the current bullish intraday outlook testing 80.00 and 79.55 which would keep price a little bit longer in sideways condition.

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