Trading Commentary Analysis: April 12
The bias for the USDJPY is neutral to bearish at this time.
The recent pullback phase is still playing out, with the price action yet to confirm support.
Below the current market price, the initial support zone is noted in the 80.50-60 region and a move below this area would be another bearish sign.
If this region fails, the probability of a move into 80.00 and potentially even 79.10-20, are greatly increased.
Above the current market price, primary resistance is noted at 81.80-90, followed by 82.50 and 83.00.