The USDJPY had a bullish momentum yesterday and hit 120.31 earlier today. The bias is bullish in nearest term testing 121.00. Immediate support is seen around 119.60. A clear break below that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I still prefer a bearish scenario at this phase but need a clear break back below 119.60 to keep the bearish scenario intact. Potential daily range today is seen between 119.60 – 121.00.
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