USDJPY Daily Forecast: June 01

USDJPY Forecast
The USDJPY had another indecisive movement yesterday. Price slipped below 108.50, but once again, failed to make a clear break below that support level, closed higher at 108.80 and hit 109.24 earlier today in Asian session. The bias is bullish in nearest term testing 109.50 – 110.05 region. On the downside, 108.50 remains a key support and good place to buy with a tight stop loss below 108.10. On the upside, a clear break and daily/weekly close above 110.05 would be a serious threat to the bearish phase.