USDJPY Forecast: Bearish Confirmed, Ready to Drop Further
As expected, the USDJPY pair pushed lower yesterday, bottomed at 111.23 following another false breakout above 112.00 and the appearance of two consecutive bearish pin bars as you can see on my daily chart below. The bias remains to the south in the near term with immediate downside technical objective lies around 111.00 region located just below the daily EMA 200. A clear break and daily close below 111.00 would help accelerate the downside momentum in the near term towards 110.00 support area where we may see some buyers kick in.