As expected, the Usdjpy continued its Bearish momentum yesterday bottomed at 101.93 and hit 101.20 earlier today. The bias remains bearish in nearest term testing 100.70 area as a part of the false break (above 104.00) bearish scenario. A clear break and daily close below 100.70 could trigger further bearish pressure retesting 99.50 region. Immediate resistance is seen around 102.00. A clear break above that area could lead price to neutral zone in nearest term but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell.
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