USDJPY Forecast:

The USDJPY had a significant bearish momentum on Friday. On h4 chart below we can see that my new trendline support (red) has been violated to the downside indicating potential bearish view with 88.80 as potential technical target. However, CCI in oversold area and heading up on h4 chart so watch out for potential upside pullback towards the trendline area (now resistance). I will be watching any reactions around this trendline today before make any decisions. Break above the trendline should be seen as bearish scenario failure and might lead us to further bullish attempt re-testing 92.50 area. Immediate resistance at 90.20/50 area.