The USDJPY continued its bullish momentum yesterday topped at 105.93 and hit 106.31 earlier today in Asian session. The bias is bullish in nearest term testing 106.75 which is a good place to sell with a tight stop loss. Immediate support is seen around 105.75 followed by 105.00. On the upside, a clear break and daily/weekly close above 106.75 would expose 108.00 – 108.50 next week. My long term technical outlook remains bearish but need a clear break at least below 103.55 to keep the bearish scenario remains strong.
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