The USDJPY failed to continue the bullish momentum yesterday bottomed at 94.54. The bias is neutral in nearest term. Overall I remain bullish and still prefer to buy on dips. Immediate support is seen around 94.00. I don’t expect any consistent movement below that area as it could trigger further bearish pullback. Immediate resistance is seen around 95.35. A clear break above that area could trigger further bullish pressure testing 96.00 area.
