USDJPY Daily Forecast: May 17 2016
The USDJPY didn’t make significant movement yesterday but overall still able to maintain its bullish bias so far, still moving inside the bullish channel as you can see on my H1 chart below. The bias remains bullish in nearest term testing109.55 which need to be clearly broken to the upside to continue the bullish correction phase targeting 110.00 – 110.65. On the downside, 108.20 remains a key support. A clear break and daily close below that area would be a threat to the bullish correction phase.