The USDJPY had another insignificant movement yesterday still with low volatility. There are no changes in my technical outlook. We have not enough information looking on shorter time frame, so I prefer to have a broader look, expecting a major bullish reversal scenario after hit the record low. As long as stays below 80.00 nearest term bias is more to the downside, testing 79.35 – 78.89 support area. A clear break and daily close below that area could trigger further bearish pressure testing 78.27. Daily CCI is moving between zero level and below -100 level since April suggests strong bearish condition. On the upside, a movement at least above 80.00 is needed to give another chance for the bullish reversal scenario.
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