The USDJPY had a bullish momentum yesterday topped at 108.78. As you can see on my daily chart below, we have two consecutive Dojis followed by a bullish candle after a bearish trend, suggests a potential bullish pullback/reversal.
The bias is bullish in nearest term testing 109.10. A clear break and daily close above that area could trigger further bullish pressure testing 110.00 – 110.96 region.
Immediate support is seen around 107.90. A clear break below that area could lead price to neutral zone in nearest term but would give the bearish scenario another chance.
Origin: FXOpen
