USDJPY Forecast

The USDJPY was corrected lower last week after unable to break above 84.17, but still found a good support around 81.80 area. Nearest term bias remains bearish but overall I still prefer a bullish scenario at this phase. I don’t expect any movement below 81.80 as it could trigger further bearish pullback testing 80.23 – 79.52 key support area. Immediate resistance is seen around 83.00. A clear break above that area could trigger further bullish pressure testing 83.50 and 84.17.

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