USDJPY Forecast

The USDJPY had another insignificant movement yesterday. The volatility has been low, moving only 50 pips up and down since December 12. There are no changes in my technical outlook. I still prefer to have a long term perspective, seeing area above 75.65 as a buy zone, expecting a bullish reversal scenario after hit the record low. Immediate support remains around 77.50 followed by 77.12. Immediate resistance is seen around 78.20/50 area. A clear break and daily close above that area could trigger further bullish momentum testing 79.52 region.

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