USDJPY Daily Forecast: February 02

The USDJPY had another insignificant movement yesterday but overall still maintain its bearish intraday bias, keep making lower lows. There are no changes in my technical outlook. The bias remains bearish in nearest term still testing 75.56. Immediate resistance is seen around 76.85. A clear break above that area could lead price to neutral zone in nearest term. I still prefer to have a long term perspective seeing area above record low 75.56 as a buy zone expecting huge bullish reversal scenario. Although short term bias is bearish note that price is still in a long period of consolidation since six/seven months ago with low volatility.

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