USDJPY Daily Forecast: March 08 2016

The USDJPY had a bearish momentum yesterday and slipped below 113.15 earlier today. The bias is bearish in nearest term especially if price able to make a clear break and consistent movement below 113.15 testing 112.00 region, which would be a serious threat to the double bottom bullish scenario. Immediate resistance is seen around 113.50. A clear break above that area could lead price to neutral zone in nearest term but would give the double bottom bullish scenario another chance testing 114.00 or higher.