USDJPY Forecast:

The USDJPY continued it’s bearish momentum yesterday, bottomed at 92.09 and closed at 92.23. On daily chart below we still have a valid bearish channel indicating bearish view. The bias remains bearish in nearest term but as you can see on daily chart below we seem to have a good support around 91.80 area which could be considered as a potential double bottom formation, giving a warning about potential upside rebound. However, a clear break below 91.80 should continue the bearish scenario towards 89.80 or even 87.10 area. Immediate resistance at 92.70 area. Break above that area should lead us into no trading zone.