USDJPY Forecast

The USDJPY didn’t make significant movement yesterday but overall still maintain its bullish intraday bias. There are no changes in my daily technical outlook. Price has been moving in a sideways condition, move up and down between 82.20 – 81.30 since May 19 without clear momentum and direction. For me the best place for a long position is around the trend line support area and 80.85 as in the absence of clear momentum like this, a proper risk – reward ratio plays very important role. On the upside, a clear break above 82.20 could trigger further bullish momentum still targeting 83.30. On the downside, clear break below the trend line support and 80.85 could be a threat to my intraday bullish outlook.

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