USDJPY Daily Forecast: June 13

USDJPY Forecast
The USDJPY continued its bullish momentum yesterday topped at 110.49 and hit 110.68 earlier today in Asian session. The bias is bullish in nearest term testing 111.00 – 111.50 region. From a longer term technical perspective as you can see on my daily chart below, price is moving inside a bearish channel with an upper line located around 112.00 region which is a good place to sell with a tight stop loss. Immediate support is seen around 110.00. A clear break below that area could lead price to neutral zone in nearest term testing 109.50 region but key short-term support remains at 108.10.