USDJPY Daily Forecast: April 22 2016
The USDJPY didn’t make significant movement yesterday. The bias is neutral in nearest term. The major bearish scenario remains valid but price is in a bullish correction/consolidation phase since found support at 107.60 as you can see on my daily chart below. Immediate support is seen around 108.75. A clear break and daily/weekly close below that area could trigger further bearish pressure retesting 107.60 next week. On the upside, 110.96 region remains a key resistance and bullish correction target.