USDJPY Forecast

The USDJPY attempted to push lower last week, bottomed at 80.00 but closed higher at 81.61. There are no changes in my technical outlook. The bias remains bullish in nearest term testing 82.20. 80.00 area could be a bottom support at this phase. Immediate support is seen around 80.50. A clear break below that area could lead price to neutral zone in nearest term testing 80.00 – 79.52 but any downside pullback now is normal and overall I still prefer a bullish scenario at this phase expecting further bullish reversal scenario after hit the record low. A clear break and daily close back below 79.52 would postpone the bullish scenario as direction would become unclear.

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