USDJPY Daily Forecast: July 12

USDJPY Forecast

The USDJPY had another insignificant movement yesterday, still moving up and down between 80.00 – 79.00. There are no changes in my technical outlook and need a clear break from the range area to see clearer direction. A clear break and daily close below 79.00 could trigger further bearish pressure testing 78.50 0r lower. On the upside, a clear break and daily close above 80.00 could trigger further bullish scenario testing 81.00 resistance area or higher. From a long term perspective I still prefer a bullish reversal scenario after hit the record low.

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