USDJPY Daily Forecast: February 15

The USDJPY continued its bearish momentum last week bottomed at 110.96 but closed higher at 113.24. As you can see on my H4 chart below, price corrected higher above 113.15 resistance challenging 114.30 but overall I remains bearish targeting 107.65. The bias is bullish in nearest term. Immediate support is seen around 113.15. A clear break below that area could lead price to neutral zone in nearest term testing 112.50 region. On the upside, a clear break and daily close above 114.30 could trigger further bullish pullback testing 115.20 – 116.00 region. I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.