USDJPY Forecast:

The USDJPY had a significant bearish momentum on Friday. As you can see in my h4 chart below, the bullish channel has been once again violated to the downside, even more convincing than the first one (the false one :D ) indicating bearish view. The bias is bearish in nearest term targeting 88.80 area. However CCI in oversold area and heading up on h1 chart so do not rush selling now and watch out for potential upside rebound testing 90.10 – 90.50 resistance area. Break above that area should lead us into no trading zone.