The USDJPY continued its bearish momentum on Friday, bottomed at 78.18. The bias remains bearish in nearest term still testing 77.65 strong support area. Immediate resistance is seen around 78.50. A clear break above that area could lead price to neutral zone in nearest term but only a clear break back above 79.00/20 could interrupt the current bearish intraday bias and reactivate my bullish mode testing 80.00/50 area. I still prefer a bullish scenario at this phase due to a good risk – reward ratio after hit the historical/record low at 75.56.
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