The Usdjpy failed to continue its bullish momentum yesterday bottomed at 111.06 and hit 110.87 earlier today in Asian session. As long as stay above 110.61 the bullish pin bar scenario should remain valid but the bias is bearish in nearest term. A clear break below 110.61 would expose 110.25/00 area before revisit the trend line support as you can see on my daily chart below, which is a good place to buy. Immediate resistance is seen around 111.45. A clear break back above that area could lead price to neutral zone in nearest term testing 112.00 region. Overall I remain neutral.
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