USDJPY Forecast
The USDJPY failed to continue its bullish momentum yesterday bottomed at 105.41. As you can see on my H1 chart below price is struggling around the lower line of the bullish channel. The bias is bearish in nearest term as we may have a false break (above 106.75) bearish scenario testing H1 EMA 200 located around 105.30. A clear break and daily/weekly close below that area would reactivate my bearish mode targeting 103.00 – 102.50 area next week. Immediate resistance is seen around 106.75. A clear break and daily/weekly close back above that area would keep the bullish correction phase remain strong.

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