USDJPY Forecast:
My technical study worked fine yesterday. Oversold CCI I said yesterday gave us a valid upside signal testing the trendline resistance area (red), topped at 90.25 before moving lower and closed at 89.96. I think we are still in no trading zone but I still prefer a bearish scenario at this phase. As you can see on my h4 chart below, I have a new trendline support (yellow) which could be an important support at this phase especially if price break below that trendline support, confirm my bearish scenario targeting 88.80 area. Immediate resistance at 90.20/50.