USDJPY Forecast:

The USDJPY made another indecisive movement yesterday. Price still able to move inside the bearish channel indicating bearish scenario remains intact but actually still trapped in a range area of 90.80 – 90.00. We need a clear break on either side to see clearer direction towards 91.50 or 89.50 area. The bearish major scenario still intact as long as price stay below the major trendline resistance (blue). Break below 89.50 could trigger further bearish momentum towards 88.50 while break above 91.50 could be a serious threat to the bearish scenario and potential new bullish phase.