USDJPY Forecast

The USDJPY attempted to push lower yesterday, but whipsawed to the upside and hit 81.79 after found a good support around 80.85. This fact keeps the intraday bullish outlook which started by the hammer formation on May 05 as you can see on my daily chart below intact. The bias is bullish in nearest term still testing 82.00 resistance area. A clear break above that area could give us validation for further bullish continuation testing 82.70 – 83.30 resistance area. Immediate support at 81.35. A clear break below that area would lead us to neutral zone in nearest term but as long as price moves above 80.85/40 and the trend line support (white) I still prefer a bullish intraday outlook.

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