The USDJPY failed to continue its bearish momentum yesterday after unable to stay consistently below 94.00 and hit 94.90 earlier today. The bias is neutral in nearest term but overall I still prefer a bullish scenario with nearest target seen around 96.00. On the downside, only a clear break and consistent movement below 94.00 could interrupt the bullish scenario and trigger further bearish correction.
Hi gregscript
USDJPY is bearish but a rebound not surprise me much as 94 held.
Above 95> 96.8 or 97.4
Below 94> 92.5 or 90.8
Bronson played well. From time to time, we must take off his head “yen”.
After this beautiful slide, it bounces off support at 98.25. Either he is afraid of the cellar, or it is melted in scorching temperatures beyond 100. In any case, he has finally decided to break his exercise of nowhere.