USDJPY Forecast
The USDJPY attempted to push higher last week, topped at 114.55 but closed lower at 113.70, printed a bearish pin bar on weekly chart. Overall I remain bullish, but the appearance of the bearish pin bar at key resistance could be a serious threat to the bullish run. The bias is neutral in nearest term. Immediate support is seen around 113.50. A clear break below that area could trigger further bearish pressure testing 113.00 area or lower. On the upside, 114.70 remains a key resistance which need to be clearly broken to the upside to invalidate the bearish pin bar scenario and resume the bullish phase targeting 115.50 or higher.

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