USDJPY Forecast:

The USDJPY attempted to push lower yesterday bottomed at 90.11 but further bearish momentum was rejected as the pair whipsawed to the upside and closed higher at 90.89. On h1 chart below we can see that the 90.20 area which connected by the red horizontal line has been a strong support so far. On the upside, the trendline resistance and 91.80 area are my key level resistance area at this phase. As long as the pair stay below that area I still prefer a downside scenario. The bias is bullish in nearest term testing the trendline resistance area but I will stay out for now as the bearish scenario remains intact. A violation to the trendline resistance should trigger further bullish momentum re-testing 91.80 area.