USDJPY Daily Forecast: April 16

The USDJPY was indecisive last week but overall still able to maintain its bearish correction bias. There are no changes in my technical outlook and price is still in a bearish phase testing 80.23 – 79.52 support area. Immediate resistance remains around 81.80 and only a clear break and daily close back above that area could end the current bearish correction phase. On longer term outlook, I remain bullish expecting further bullish reversal scenario after hit the record low.

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