USDJPY Daily Forecast: October 04

USDJPY Forecast
The USDJPY had a bullish momentum earlier today hit 102.39. The bias is bullish in nearest term. As you can see on my H1 chart below, price is now testing the lower line of the (violated) bullish channel located around 102.50 which is a good place to sell with a tight stop loss. Immediate support is seen around 101.80. A clear break below that area could lead price to neutral zone in nearest term testing 101.25 – 100.80 region. Overall I remain bearish.