USDJPY Forecast:

The USDJPY attempted to push lower yesterday, bottomed at 91.60 but bearish scenario was limited as the pair closed higher at 91.95. On my h4 chart below, we have another bullish correction warning indicated by two bullish reversal candlestick patterns, a hammer and an inverted hammer. Looking back on September 03, we also had a hammer before some bullish correction. So, if the hammer and inverted hammer followed by bullish candle and closed at least above 92.24 (high on inverted hammer) then we should have potential bullish correction scenario testing 92.60 resistance area. Break above that level could trigger further bullish correction. Immediate support at 91.60 (yesterday’s low). Break below that area could diminish the bullish reversal scenario.