USDJPY Forecast

The USDJPY was volatile but indecisive yesterday. The bias is neutral in nearest term but my overall technical bias remains strongly to the downside. Although I see no technical evidence of a potential bullish correction/reversal so far, a bearish exhaustion might happen if  76.21 key support area able to prevent further downfall. On the other hand, a clear break below 76.21 could trigger further bearish scenario aiming for 75.00. Immediate resistance is seen around 77.50. A clear break above that area could trigger further bullish pullback testing 78.50 but as long as price stays below 79.55 my overall technical bias remains strongly bearish.

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