USDJPY Forecast:

The USDJPY had a significant bullish momentum yesterday. On my h4 chart below we can see that the bearish channel has been violated to the upside and price is moving above 90.40 area. I think we are now back in bullish mode with 91.50 and 92.50 area as potential bullish targets. I will be watching 90.40 support today. Break below that area could diminish my bullish outlook and lead us back into no trading zone area as direction would become unclear but I prefer a bullish scenario and short position is not recommended at this phase.