USDJPY Forecast

The USDJPY was volatile last week but overall still able to maintain its strong bullish outlook, keeps making higher lows and highs in the last five weeks. The bias remains bullish in nearest term testing 82.70 – 83.20 even 84.00 area. Immediate support is seen around 82.10 (current low). A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 81.00 I still prefer a bullish intraday scenario at this phase with buy on dips strategy. On the downside, only a clear break back below 80.23 – 79.52 support area could stop the current strong bullish outlook.

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