USDJPY Forecast

The USDJPY was indecisive last week. There were three downside attempts testing 76.21 key support area but so far the bearish pressure still unable to make a clear break and daily close below 76.21, keep price in range condition as you can see on my daily chart below. Although overall pressure seems more to the downside now, a several failures to make a clear break below 76.21 might create bearish exhaustion. Aggressive intraday traders can still take advantage of the current sideways movement by long around 76.21 with a tight stop loss as a clear break and daily close below 76.21 could continue the bearish scenario targeting 75.00 area.

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