USDJPY Forecast

The USDJPY was indecisive yesterday, but had a bearish momentum earlier today after BOJ left the benchmark interest rate unchanged and kept asset-purchased fund at 40 trillion Yen. Price broke below 79.00, which technically could trigger further bearish pressure testing 78.27/00 support area. The bias is bearish in nearest term. Immediate resistance is seen around 79.15/30. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear.

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