USDJPY Forecast

The USDJPY made another volatile but indecisive yesterday but still able to move above 82.45 so far suggests that the intraday bias remains to the upside still testing 83.20 – 84.40. On the downside, immediate support is seen around 82.15 followed by 81.80, where some buying activities were seen. While market remains volatile without consistent momentum in short term outlook, a look at the daily chart below gives us a broader view that overall price still consolidating in a triangle formation. A bullish reversal scenario after hit 15 year low at 80.30 would be validated on a clear break above the triangle and 83.50 resistance area.

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