USD/JPY Daily Outlook
Daily Pivots: (S1) 76.13; (P) 76.51; (R1) 76.87; More.
USD/JPY is still staying in tight range above 76.11 temporary low and intraday bias remains neutral. Recent sideway consolidation is still in progress. On the upside, while another recovery cannot be ruled out, we’d expect strong resistance from near term falling trend line (now at 77.89) to to limit upside. On the downside, break of 75.94 low will confirm resumption of whole fall from 85.51 and would target 70 psychological level.
In the bigger picture, USD/JPY is still staying well inside
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