USDJPY Forecast

The USDJPY made another insignificant movement yesterday, still trapped in range area of 76.21 – 77.21. There are no changes in my technical outlook. The major scenario remains strongly to the downside but need a clear break below 76.21 to continue the bearish scenario testing 75.00. On the upside, a clear break above 77.21/50 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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