USDJPY Forecast:

The USDJPY had a bearish momentum yesterday, bottomed at 91.69 and closed at 91.75. My concern about 92.50 area as strong resistance that keep me stop buying this pair proved to be right. The bias is bearish in nearest term but don’t forget that we have a good support around 91.40 area. Valid break below that area should trigger further bearish momentum targeting 90.70 area. Immediate resistance at 92.50 area. CCI in overbought area and about to cross the 100 line down on daily chart suggesting potential downside pressure.