USDJPY Daily Forecast: March 07 2016

The USDJPY was indecisive last week formed a Doji on weekly chart. The bias is neutral in nearest term but overall price is still in a bullish phase since formed a double bottom formation as you can see on my daily chart below. Immediate support is seen around 113.15. A clear break and daily close below that area could trigger further bearish pressure testing 112.00 area. Immediate resistance is seen around 114.25/55. A clear break and daily close above that area could trigger further bullish pressure testing 116.00 region.