USDJPY Forecast

The USDJPY failed to continue its bullish intraday bias yesterday, bottomed at 76.50, erased about 50% of last week’s gains just in one day. This fact keeps price in range area/consolidation phase. There are no changes in my technical outlook and aggressive intraday traders can still take advantage from current sideways condition by short around 77.80 or long around 76.21 with tight stop loss.

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