USDJPY Daily Forecast: June 07 2016
The USDJPY was corrected higher yesterday topped at 107.65. The bias is bullish in nearest term testing 107.70. Overall, as long as stay below H1 EMA 200 (see my H1 chart below) I still prefer a bearish scenario at this phase but a clear break and daily close above 107.70 could trigger further bullish pullback testing the H1 EMA 200 located around 108.90 area. Immediate support is seen around 107.00. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish scenario remain strong testing 106.00 – 105.50 support area which is also a good place to buy.