The USDJPY was corrected higher last week but overall still able to maintain its bearish phase after fell from 101.53. The bias is neutral in nearest term. Immediate support is seen around 97.40. A clear break below that area could trigger further bearish pressure testing 97.00 or lower. Immediate resistance is seen around 98.00 – 98.25. A clear break above that area could interrupt the current bearish outlook testing 99.00 – 99.50 key resistance.
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