USDJPY Daily Forecast: September 21

USDJPY Forecast

The USDJPY continued its bearish bias yesterday after failed to break above 79.20 key resistance area on Wednesday. The bias is bearish in nearest term testing 77.65/11. My medium outlook is unclear with potential sideways movement. Immediate resistance is seen around 78.50. A clear break above that area could lead price to neutral zone in nearest term but note that we need a clear break and daily close at least above 79.20 to stop the bearish outlook. I still prefer a bullish scenario due to a good risk-reward ratio after hit the record low at 75.56.

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