USDJPY Forecast

The USDJPY failed to continue its bearish momentum last week after another rejection to move below key support 76.21, keep price in the range area as you can see on my weekly chart below. 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. I still see a good reason for a long term buy position.

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