USDJPY Forecast

The USDJPY continued its bearish pressure yesterday, bottomed at 79.68 but bounced higher earlier today in Asian session and hit 80.29. The bias is neutral in nearest term. Overall my technical bias remains to the downside but looks like we have a good intraday support around 79.55 and need a clear break below that area to continue the bearish scenario testing 78.24 and 76.21. Immediate resistance remains around 80.40 followed by 80.85. A clear break above that area could be a threat to the bearish intraday outlook testing 81.30 – 81.75.

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