Staying bearish the USDJPY has proved a wise decision although the decline over the last month has been choppy. As long as price remains below 96 (below the resistance line from early October), bearish potential is significant (below 80).
Another reason to stay bearish is that the USDJPY is not ‘acting’ as it has at recent bottoms. Turns usually occur with a price spike (notice indicator on chart). There has been no spike recently in the USDJPY, which tells me that a bottom is not likely to form soon.
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