USDJPY Forecast
The USDJPY had a bearish momentum yesterday bottomed at 111.62 but traded a little bit higher earlier today in Asian session hit 112.05. The bias is neutral in nearest term but overall price is still in a bearish phase after fell from 114.00 – 114.70 key resistance area testing the trend line support and 111.00 region which is a good place to buy with a tight stop loss as a clear break below the trend line support not only would invalidate the major bullish outlook but could be the earliest stage of a bearish reversal scenario.

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