The USDJPY was corrected lower yesterday. The pair bottomed at 92.33 and closed at 92.55. From daily chart point of view the pair failed to breakout from strong resistance at 94.60 area. This facts could be an ending of the current short term bullish correction momentum. CCI in overbought area and about to cross 100 line down on daily chart suggesting a potential bearish pressures. Initial support is seen at 91.60. A break below that support level could trigger further bearish scenario back towards 90.00 area. Immediate resistance is seen at 93.40.
USDJPY Daily Supports and Resistances: