USDJPY Daily Forecast: July 04 2016
The USDJPY was corrected higher last week topped at 103.39 but closed lower at 102.55. As long as stay below 103.55 I still prefer a bearish scenario at this phase but as you can see on my H1 chart below price has been moving sideways between 103.55 – 101.50 since the Brexit referendum suggests a consolidation phase. The bias is neutral in nearest term probably with a little bullish bias testing 103.55. A clear break and daily close above that area could trigger further bullish pressure testing 104.80 or higher. Immediate support is seen around 102.50. A clear break below that area could trigger further bearish pressure testing 101.50 region.