The USDJPY had a bearish momentum last week, fell below 77.12 support area and hit 76.75 earlier today in Asian session. The bias is bearish in nearest term retesting the record low at 75.56. I still prefer to have a long term perspective, seeing area above 75.56 as a buy zone expecting a bullish reversal scenario with a tight stop loss below 75.56. Immediate resistance is seen around 77.00 followed by 77.50. CCI remains in negative territory suggest no significant bullish momentum so far.
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