USDJPY Daily Forecast: August 09

The USDJPY had another insignificant movement yesterday. There are no changes in my technical outlook. We have three Dojis formation on weekly chart suggests indecisive/consolidation situation. As long as stays below 79.20 my overall intraday bias remains to the downside testing 77.56 strong intraday support area. A clear break and daily close below 77.65 could trigger further bearish pressure testing the record low but any movement near the record low could attract many buyers.

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