USDJPY Forecast
The USDJPY continued its bearish momentum last week bottomed at 108.27. The bias is bearish in nearest term but note that 108.50 – 107.50 region remains a key support and good place to buy with a tight stop loss below 107.50. Immediate resistance is seen around 109.00. A clear break above that area could lead price to neutral zone in nearest term testing 109.50 or higher. Overall I remain neutral.