USDJPY Daily Forecast: April 05

USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 105.98 but whipsawed to the upside, closed higher at 106.75 and hit 107.01 earlier today in Asian session. Price slipped above the bearish channel as you can see on my daily chart below which invalidates the bearish phase. The bias is bullish in nearest term testing 108.00/50 region. Immediate support is seen around 106.50. A clear break and daily close back below that area could create a false breakout bearish scenario testing 106.00 – 105.50 region. Overall I remain neutral.