USDJPY Forecast:

The USDJPY made another moderate bearish momentum yesterday. On h4 chart below we can see that the new candle next to the inverted hammer failed to closed above 92.24 area indicating bullish reversal scenario failure and the price closed at 91.73. This bullish reversal failure could potentially lead the pair to further bearish pressure. Price is now traded below key support level 91.80 indicating potential bearish view. The bias is bearish in nearest term targeting 90.70 area. Break above 91.80 area should lead us back into no trading zone.