USDJPY Forecast

The USDJPY failed to continue its bullish momentum yesterday, bottomed at 80.96 and hit 80.84 earlier today. The bias is bearish in nearest term testing 80.23 – 79.52 which remains a good place to buy with a stop loss below 79.52. Immediate resistance is seen around 81.25. A clear break above that area could lead price to neutral zone in nearest term retesting 81.80. We need a clear break and daily close at least back above 81.80 to end the current bearish correction phase.

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