The USDJPY continued its bearish bias yesterday after failed to break above 79.20 key resistance area on Wednesday. The bias is bearish in nearest term testing 77.65/11. My medium outlook is unclear with potential sideways movement. Immediate resistance is seen around 78.50. A clear break above that area could lead price to neutral zone in nearest term but note that we need a clear break and daily close at least above 79.20 to stop the bearish outlook. I still prefer a bullish scenario due to a good risk-reward ratio after hit the record low at 75.56.
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