USDJPY Daily Forecast: May 01

USDJPY Forecast
The USDJPY regained its bullish momentum yesterday but still unable to break above the daily EMA 200 located around 109.50. The bias is bullish in nearest term especially if price able to make a clear break and consistent movement above 109.50 targeting 110.50 or higher. Immediate support is seen around 109.00 – 108.95. A clear break below that area could lead price to neutral zone in nearest term testing 108.50 but overall I still prefer a bullish scenario at this phase and any downside pull back should be seen as a good opportunity to buy.