USDJPY Forecast

The USDJPY was indecisive yesterday. On hourly chart below we can see price is moving inside a descending triangle, suggests the bearish correction likely to continue especially if price able to make a clear break below the triangle and 83.45 testing 82.55/00 support area. However, note that the major bullish outlook remains intact. Immediate resistance at 84.20 area. A clear break above that area would lead us to neutral zone in nearest term but only a clear break above 84.70 could end the current bearish correction phase.

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