The USDJPY had a Bearish momentum last week bottomed at 105.59. The bias is bearish in nearest term testing 105.50 support area. The Descending Triangle scenario seems valid, but need a clear break below 105.50 to confirm the bearish scenario testing 104.25 region. Immediate resistance is seen around 106.35. A clear break above that area could lead price to neutral zone in nearest term but only a clear break above 107.00 would invalidate the descending triangle bearish scenario. Overall I remain neutral.
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