USDJPY Forecast:

The USDJPY had a significant bearish momentum on Friday. On h4 chart below we can see that we had a significant bearish momentum after price break below 90.20 support area, bottomed at 89.50, closed at 89.64 and traded even lower early today in Asian market around 88.54 at the time I wrote this comment. The bias is bearish in nearest term targeting 87.10 area but we seem to have a good support around 88.50 area so do not rush selling now. I think the best strategy for now is to put a short position once we have a break below 88.50 with a tight stop loss above it. Immediate resistance at 89.15. Break above that area should trigger further bullish correction but long position is not recommended.