USDJPY Forecast:

As I had expected, the USDJPY continued it’s bearish momentum on Friday, hit my short target at 90.70, bottomed at 90.20 and closed at 90.70. On h1 chart below we have a hammer formation after some bullish momentum, so watch out for potential bullish correction testing 90.70 – 91.15 resistance area. Break above that area should trigger further bullish correction testing 91.80. As long as the pair stay below that area, I still prefer bearish scenario. Immediate support at 90.20. (Friday’s low). Break below that area should trigger further bearish continuation towards 89.70 area.