USDJPY Forecast

The USDJPY was indecisive yesterday and now struggling around 77.80. The bias is neutral in nearest term. Personally I prefer a bullish reversal scenario after hit the record low and we might see another intervention but a clear break and daily close back below 77.80 would keep the bearish pressure strong, testing 76.30 even attempting to hit a new record low. On the upside, a clear break and daily close above 77.80 would keep the bullish reversal scenario intact, testing 78.97 – 79.52 even higher.

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