USDJPY Forecast

The USDJPY had a significant bearish momentum yesterday, bottomed at 79.12 and still moving below 79.52/35 key support area. This fact postpones the bullish reversal scenario probably retesting the record low at 75.56 in longer term perspective. The bias is bearish in nearest term testing 78.27/50 area. Immediate resistance is seen around 79.52. A clear break above that area could lead price to neutral zone in nearest term but we need a clear break and daily close at least back above 80.00 to give the bullish reversal outlook another chance with a false breakdown scenario.

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