USDJPY Forecast
The USDJPY had a strong bearish momentum yesterday, broke below the falling wedge formation as you can see on my H1 chart below. The failure of the falling wedge bullish scenario usually leads to a bearish continuation scenario. The bias is bearish in nearest term testing 104.00 – 103.50 area. Immediate resistance is seen around 105.50. A clear break above that area could lead price to neutral zone in nearest term testing 106.00 region but overall I prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.

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