USDJPY Daily Forecast: June 11

USDJPY Forecast
The USDJPY was indecisive last week. Price attempted to push higher, slipped above 110.00 resistance area but whipsawed to the downside and closed lower at 109.53. The bias is neutral in nearest term. From a daily chart perspective, we have a potential “head and shoulders” formation with neckline located around 108.50 key support. Immediate support is seen around 109.20. A clear break below that area would retest 108.50 key support. Immediate resistance is seen around 109.85. A clear break above that area could retest 110.25 region.