USDJPY Forecast

The USDJPY didn’t make significant movement yesterday but overall still able to maintain its bearish intraday bias. There are no changes in my technical outlook. The bias remains 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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