USDJPY Daily Forecast: March 21

USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 106.60. The bias is bullish in nearest term. Price is now testing the upper line of the descending triangle formation as you can see on my daily chart below suggests a critical technical point. A clear break above 106.65 would invalidate the descending triangle bearish scenario. Immediate support is seen around 106.35/25 region. A clear break back below that area could lead price to neutral zone in nearest term but would keep the descending triangle scenario remains alive and kicking retesting 105.50 key support area. Overall I remain neutral.