USDJPY Forecast

The USDJPY had a moderate bearish momentum yesterday and now slipped back below 77.80. There are no changes in my technical outlook. I still prefer to see movement above the record low 75.56 as a buy zone with nearest bullish target around 79.52 followed by 80.00 and 81.00. Looking back from a monthly chart perspective, price has been moving sideways in the last four months. Not an ideal condition for intraday trades with the absence of consistent momentum, but remains a good long term plan looking for a big bullish reversal scenario.

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