The USDJPY failed to continue its bullish momentum on Friday and slipped back inside the bearish channel as you can see on my h4 chart below. Chart pattern analysis is a little bit mess for this pair. I still prefer a bullish scenario at this phase. Aggressive traders can long around 82.33 with stop below 81.80 while conservative traders can long around 81.80 with smaller stop loss with same bullish target around 84.40. This scenario is the best scenario I can think of in this condition as support and resistance approach seems to be the best approach now.
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