USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 99.53 but closed higher at 100.29 and hit 100.68 earlier today. Overall I remain bearish but we have a hammer candlestick formation on H4 chart suggests a potential bullish correction scenario. The bias is bullish in nearest term testing 100.70 – 101.00 region which is a good place to sell with a tight stop loss. Immediate support is seen around 100.15. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish scenario remains strong retesting 99.53 or lower. On the upside, a clear break and daily close above 101.00 could trigger further bullish correction testing 101.50 or higher.


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