USDJPY Forecast

The USDJPY had another insignificant movement yesterday. There are no changes in my technical outlook. Price has been consolidating this week in a narrow area with low volatility. Although nearest term bias remains to the downside, buying around 79.52 area is still valid for a medium/long term trading plan and the risk – reward ratio is temping. On the downside, a clear break and daily close below 79.52/35 could be a threat to the bullish reversal scenario at least testing 78.27 area.

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