USDJPY Forecast:

As I had expected, after break below 89.40 support area, the USDJPY continued it’s bearish momentum yesterday, hit my short target at 88.80, bottomed at 88.74 but closed a little bit higher at 89.13. The bias is neutral in nearest term but I am expecting further bearish pressure targeting 88.00. However, we need a consistent move below 88.80 to continue the bearish scenario. Initial resistance at 89.40 (former support). Break above that area should trigger further bullish momentum, threat my bearish outlook and lead us into no trading zone as direction would become unclear for me.