USDJPY Forecast:

The USDJPY attempted to push lower yesterday, bottomed at 88.56 but still unable to escape from my range area of 89.40 – 88.80/60 so far. As you can see in my h4 chart below, the lower line of the range area has been tested more that the upper line indicating the pressure is more to the downside. However, this fact also has another consequence that if price keep fail to move below 88.80/60 consistently, the bearish power may exhausted and trigger bullish momentum. The bias remains neutral as price still trapped in the range, and my strategy remains the same, to buy around 88.80/70 or to sell around 89.40 with tight stop loss about 30 pips.