USDJPY Forecast

The USDJPY continued its bullish bias yesterday, topped at 79.38 and closed at 79.28. The bias remains bullish in nearest term testing 80.00 area. A clear break and daily close above 80.00 would give another chance for the major bullish reversal scenario after hit the record low. Immediate support is seen around 78.85. A clear break below that area could lead price to neutral zone in nearest term as direction would become unclear retesting 78.27/00 support area.

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