USDJPY Forecast

The USDJPY had a bearish momentum on Friday, bottomed at 80.04 and closed at 80.26. On hourly chart below we can see the descending triangle has been violated to the downside, confirming the bearish scenario at least testing 79.55. Immediate resistance at 80.85 which is the best place for a short position with a nice risk – reward ratio. A clear break back above 80.85 would lead us to neutral zone as direction would become unclear testing 81.30 – 81.75 resistance area.

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