USDJPY Forecast:
The USDJPY made indecisive movement yesterday. The bullish correction scenario triggered by hammer formation remains intact, but found good resistance around 87.50 area. The bias remains neutral in nearest term. Unless we have a break below 86.10 area, the bullish correction scenario should remains intact especially if price able to break above 87.50 area, targeting 88.80 and the major trendline resistance (red). I prefer to buy the dips since intervention threat by the Japanese government should offer good long position opportunity every time price attempt to push lower.

Popularity: 1%