USDJPY Forecast
The USDJPY had a bullish momentum yesterday and hit 120.35 earlier today. The bias is bullish in nearest term but overall I remain bearish. Selling around 120.40 with a tight stop loss targeting 118.00 seems to be a good idea. A clear break above 120.40 could trigger further bullish pressure testing 121.00 – 121.50 region. Potential daily range today is seen between 118.00 – 120.40.

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