USDJPY Forecast

The USDJPY attempted to push lower yesterday, bottomed at 76.31 but closed a little bit higher at 76.67. There were some minor downside pressures earlier today in Asian session and my hourly chart shows a neutral-bearish bias but note that price is still trapped in range area as you can see on my daily chart below and there are no changes in my technical outlook until we have a clear break from the range area. Aggressive intraday traders can still take advantage from the current sideways movement by short around 77.80 or long around 76.21/00 with tight stop loss.  A clear break and daily close below 76.21 could trigger further bearish scenario and activate my bearish intraday mode testing 75.00 area.

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