USDJPY Forecast

The USDJPY attempted to push higher yesterday, topped at 77.22 but closed lower at 76.88. The bias remains neutral in nearest term. No significant movement so far and there are no changes in my technical outlook as price still in consolidation phase, trapped in rectangle area as you can see on my daily chart below. Aggressive intraday traders can still take advantage of the current range market by short around 77.50 or long around 76.21 with tight stop loss.

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