USDJPY Daily Forecast: May 02

USDJPY Forecast
The USDJPY had a significant bullish momentum yesterday, broke above the daily EMA 200 as you can see on my daily chart below. The bias remains bullish in nearest term testing 110.50. Immediate support is seen around 109.50. A clear break and daily close back below that area could lead price to neutral zone in nearest term testing 109.00 – 108.50 support area but overall I still prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy. On the upside, a clear break and daily close above 110.50 would expose 111.50 region or higher.