USDJPY Forecast

The USDJPY was indecisive yesterday, made a Doji on daily chart but overall still able to maintain its bearish intraday bias and now testing 80.85 support area, which is the 50% Fibonacci retracement of 76.21 – 85.51. A clear break below 80.85 could trigger further bearish pressure testing 79.80 (61.8%). Immediate resistance at 81.40. A clear break above that area would lead us to neutral zone in nearest term but as long as price stays below 82.00 my intraday bias remains more to the downside.

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