The USDJPY was indecisive yesterday but overall still able to maintain its bearish intraday bias after the false breakout above 80.00. The bias is neutral in nearest term. Immediate resistance is seen around 79.80. A clear break above that area could trigger further bullish pressure retesting 80.00/50 resistance area. On the downside, a clear break and daily close below 78.70 could trigger further bearish pressure testing 77.65. Overall I still prefer a major bullish reversal scenario after hit the record low but the false breakout above 80.00 suggests that the bearish pressure is still strong at least in nearest term.
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