USDJPY Forecast:

The USDJPY made another indecisive movement yesterday, formed a Doji on daily chart. On my h4 chart below we can see that the pair still able to stay above 89.60/30 area. For me this fact indicating that the bullish correction scenario remains intact. We also have a “flag” formation, which is technically a bullish formation especially if we have a breakout above the “flag” targeting 91.50 area. However, a valid break below 89.60/30 area should be seen as potential threat to the bullish correction scenario.