The pair is still under pressure threatening its yearly low at 76,30 which offered a great support lately. A break below this level would expose further significant decline.
We need to see a break back above 80,00 to start considering a possible bullish resumption.
The BoJ is still watching the market and might be in a position for another intervention soon. We have to be vigilent as it would prop significantly the USD/JPY (and other related Yen pairs) once again.
We continue to hold a bearish bias on the pair but the outlook is not clear.
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