The USDJPY had a bullish momentum last week slipped above 121.30 key resistance. The bias is bullish in nearest term especially if price able to move consistently above 121.30 targeting 122.50 – 123.00 region. However, I believe that we have no clear break out so far so now is still a good time and place to sell with a tight stop loss targeting 118.50 region. Immediate support is seen around 121.00. A clear break below that area could lead price to neutral zone in nearest term testing 120.50 or lower.
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