USDJPY Forecast:

The USDJPY attempted to push lower yesterday, bottomed at 89.98 but whipsawed to the upside and closed higher at 90.74. This fact indicating that potential upside pressure is still alive and kicking with the lower line of the bullish channel remains potential resistance area to be tested. On the downside, I have a new trendline support (red) as an important support at this phase. I still think that now is not the best time to trade, but if my trendline support violated to the downside, my bearish mode will be confirmed. Immediate support at 90.50 followed by 89.89 (yesterday’s low).