USDJPY Forecast

The USDJPY failed to continue its bullish momentum yesterday and so far the upper line of the bearish channel does a good job preventing further upside pressure. The bias is neutral in nearest term. Price has been moving in range area since January 06 with no clear direction and consistent momentum. I will stand aside for now. I still prefer a bullish scenario but need a clear break above the bearish channel to continue the bullish scenario targeting 84.40. Immediate support remains around 82.80 followed by 82.33.

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