USDJPY Forecast:

The USDJPY still trapped in range area of 89.60 – 91.07 yesterday indicating consolidation. We need a clear break from that area to see clearer direction. I think the best strategy form now is to short around 91.07 or long around 89.60 with tight stop loss. Break above 91.07 and movement above the major trendline resistance could be seen as potential bearish failure and new bullish phase. On the other hand, consistent move below 89.60 should keep the major bearish scenario intact testing 88.50 region.