USDJPY Daily Forecast: March 11 2016

The USDJPY was indecisive yesterday. Price attempted to push higher, topped at 114.44 but whipsawed to the downside and closed lower at 113.13. The bias is bearish in nearest term testing 112.50/25 region. Immediate resistance is seen around 113.55. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear testing 114.00 region. The double bottom bullish scenario remains valid but need a clear break above 114.50 to continue the bullish scenario targeting 116.00.