[m.youssif]

No change in USD/JPY's outlook as it's staying in tight range below 81.95 and intraday bias remains neutral. Further rise could still be seen. However, with 84.49 key resistance intact, there is no indication of trend reversal and hence, we'd still mildly favor an eventual downside break out. Below 80.50 minor support will flip bias back to the downside and target 78.25 and below.

In the bigger picture, multi-decade down trend in USD/JPY should still be in progress and in any case, we'll stay bearish as long as 84.49 key resistance holds. Current down trend would possibly extend to 61.8R projection of 94.97 to 80.29 from 83.96 at 74.88 next. However, decisive break of 84.49 will argue that an important medium term bottom is formed. Focus will then turn to whether USD/JPY could sustain above 55 weeks EMA (now at 85.45). In that case, stronger rise could be seen towards 94.97 resistance and above.

[m.youssif]

No change in USD/JPY's outlook as it's staying in tight range below 81.95 and intraday bias remains neutral. Further rise could still be seen. However, with 84.49 key resistance intact, there is no indication of trend reversal and hence, we'd still mildly favor an eventual downside break out. Below 80.50 minor support will flip bias back to the downside and target 78.25 and below.

In the bigger picture, multi-decade down trend in USD/JPY should still be in progress and in any case, we'll stay bearish as long as 84.49 key resistance holds. Current down trend would possibly extend to 61.8R projection of 94.97 to 80.29 from 83.96 at 74.88 next. However, decisive break of 84.49 will argue that an important medium term bottom is formed. Focus will then turn to whether USD/JPY could sustain above 55 weeks EMA (now at 85.45). In that case, stronger rise could be seen towards 94.97 resistance and above.