USDJPY Forecast

The USDJPY made another insignificant movement yesterday. There are no changes in my daily technical outlook and price still trapped in range area of 79.55 – 82.22. I think this pair is not a good pair to be traded right now and I prefer to stand aside and wait for further development. Immediate resistance remains around 80.50/85. A clear break above that area could trigger further bullish momentum testing 82.22. On the downside, key support area remains around 79.55. Aggressive intraday traders can still long around that area with tight stop loss as a clear break below that area could lead us to a new bearish phase testing 78.24 and 76.21.

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