The Usdjpy had a bearish momentum yesterday bottomed at 115.95 and hit 115.49 earlier today in Asian session. The bias is bearish in nearest term. From an H4 chart perspective as you can see on my H4 chart below, it is clear that price is still in a bullish condition but currently under downside pressure after formed a double top formation at 118.60 and now seems ready to test H4 EMA 200 located around 114.60 region. Immediate resistance is seen around 116.20. A clear break above that area could lead price to neutral zone in nearest term testing 117.00 area.
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