USDJPY Daily Forecast: January 05

USDJPY Forecast
The USDJPY continued its bullish momentum yesterday topped at 112.86 and hit 113.11 earlier today. The bias remains bullish in nearest term but as you can see on my H1 chart below, price revisits the violated trend line support, which is a good place to sell. In fact, for me the area between 113.05 – 113.75 is a “sell zone” with a tight stop loss above 113.75. Immediate support is seen around 112.70. A clear break below that area could lead price to neutral zone in nearest term testing 112.00 key support area. Overall I remain neutral.