USDJPY Forecast:

The USDJPY was corrected higher yesterday, topped at 91.12 and closed at 90.87. I am not surprised as the hammer formation I showed you yesterday gave us a valid bullish rebound warning. We might have another bullish correction today, testing 91.15 and 91.80 resistance area. Only a clear break above 91.80 should be seen as potential threat to the current bearish outlook. Immediate support at 90.70 – 90.20 area. I still prefer a bearish scenario but I think it’s better to stay out for now.