The USDJPY continued its bearish correction yesterday and now consistently move below 93.75 area indicating potential further bearish correction. The bias is bearish in nearest term targeting 92.50/00 area. However note that from longer term point of view, the current bearish movement is just a normal correction as the main outlook remains bullish. Another movement back above 93.75 could potentially end the bearish correction phase targeting 95.50 area.
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