USDJPY Forecast:

The USDJPY had a moderate bullish momentum on Friday. The pair continued it’s  bullish correction phase testing the 94.15 (38.2% Fibo retracement of 97.77 – 91.93) area as the nearest potential bullish correction target. However please note that the main trend remains bearish indicated by the bearish channel (red channel). Immediate support is seen at 92.60 area. Break below that area could be seen as potential ending to the bullish correction and lead us to bearish continuation scenario re-testing 91.80 area.