USDJPY Forecast
The USDJPY continued its bullish momentum yesterday topped at 112.77 and hit 112.89 earlier today in Asian session. The bias is bullish in nearest term, but as you can see on my H4 chart below, price is at a major trend line resistance, which is a good place to sell with a tight stop loss as a clear break and daily close above the trend line resistance and 112.90 – 113.00 area could trigger further bullish scenario retesting 118.60 area. Immediate support is seen around 112.50. A clear break below that area could lead price to neutral zone in nearest term testing 112.00 or lower.

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