USDJPY Forecast:

The USDJPY attempted to push higher yesterday, topped at 91.27 but closed lower at 90.99. On h4 chart below we can see that the lower line of the bullish channel still provided a good resistance. Another technical side that could be a support for a bearish scenario after violation of the bullish channel is that we have a double top formation, as you can see on my h4 chart below, indicating potential downside scenario. While we might still moving in range area of 90.10 – 91.50 today, but I am expecting a downside pressure than upside. Break below 90.10 should lead us into a bearish scenario confirmation.