USD/JPY Mid-Day Outlook
Daily Pivots: (S1) 76.13; (P) 76.44; (R1) 76.66; More.
No change in USD/JPY’s outlook as it’s still bounded in in tight range above 76.11 temporary low. Intraday bias remains neutral and recent sideway consolidations might extend further. 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
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