USDJPY Daily Forecast: March 23

USDJPY Forecast
The USDJPY had a significant bearish momentum yesterday, broke below the descending triangle formation as you can see on my daily chart below, bottomed at 105.25 and hit 104.63 earlier today in Asian session. This fact confirms the descending triangle bearish scenario. The bias is bearish in nearest term testing 104.25 area. Immediate resistance is seen around 105.50. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. On the downside, a clear break and daily/weekly close below 104.25 would expose 102.50 next week.