USDJPY Daily Forecast: April 04

USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 106.65. The bias is bullish in nearest term, but price is now struggling around the upper/resistance line of the bearish channel as you can see on my daily chart below, which is a good place to sell with a tight stop loss above 107.00. Immediate support is seen around 106.10. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish phase alive and kicking testing 105.50 area or lower. On the upside, a clear break and daily close above 107.00 would invalidate the bearish phase testing 108.50 or higher this week. Overall I remain neutral.